Genesys International Corporation jumped 7.16% to Rs 712 after the company reported consolidated net profit of Rs 5.30 crore in Q1 FY25 as against net loss of Rs 5.46 crore posted in corresponding quarter last year.
Revenue from operations surged 61.39% year on year (YoY) to Rs 55.76 crore in the quarter ended 30 June 2024.
Profit before tax for the quarter stood at Rs 8.78 crore as compared with pre-tax loss of Rs 5.24 crore recorded in first quarter of FY24.
During Q1 FY25, EBITDA stood at Rs 22.03 crore in June 2024 quarter, significantly higher from 6.53 crore in similar quarter previous fiscal. EBITDA margin improved to 38.88% in Q1 FY25 as against 18.60% in Q1 FY24.
Sajid Malik chairman & managing director said, This year should see the impact of our India map stack as is beginning to get reflected in our current quarter. In the quarter in question, we launched one of the most state of art automotive navigation map platform and in the coming quarters we expect to see good traction in terms of new product launches.
We have also made great progress of our 3D Digital twin initiatives with several cities adopting the same. We expect this to be a game changer in terms of the usage of map data for multiple markets as the markets now evolve towards 3D and the digital twin space.
Over the past quarter several market developments favor the large-scale adoption of Genesys 3Ddata in the areas of solar /renewable energy , urban planning , real estate , disaster management, land records and our advanced location intelligence product for BFSI, insurance and retail sectors.
The company stated, This quarters result reflect the impact of the New India map stack strategy and the content program developed by the company. The adoption of the company’s content program has picked up momentum, and during the quarter, the company secured some significant contracts that will benefit its future. Over the next few quarters, we anticipate a strong momentum in product launches across key verticals.
Genesys International Corporation is a premier advanced mapping company. With a team of close to 2,000 professionals along with the nationwide Genesys constellation of sensors, the company is building the new India map stack. Genesys International has unique expertise, encompassing an understanding of emerging consumer applications related to mapping technology and the capability to provide cutting-edge solutions on the enterprise and government markets.
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First Published: Aug 16 2024 | 3:33 PM IST
