MapMyIndia's Q2 FY27 Net Profit Jumps 85% to Rs 37.5 Crore

MapMyIndia's net profit surged 85% year-on-year to Rs 37.52 crore in Q2 FY27, on operating revenue of Rs 132 crore, up 15.8% from Rs 114 crore in the year-ago quarter. The Delhi-based company's parent, C.E. Info Systems, filed the consolidated figures with the National Stock Exchange on Wednesday.

The profit story gets sharper when you trace where the money moved. Revenue from map data and related services — royalties, subscriptions, software and projects — slipped marginally to Rs 99 crore from Rs 100 crore. Hardware device sales more than doubled to Rs 33 crore from Rs 14 crore. That hardware surge carried the quarter.

MapMyIndia is a deep-tech company selling digital maps, geospatial software, location-based APIs, IoT solutions and mapping platforms to enterprises, automakers, government agencies, developers and consumers across automotive, enterprise and government segments.

What did the expense line show?

Cost discipline did most of the bottom-line work:

• Cost of materials consumed rose 71% to Rs 27 crore from Rs 15.8 crore — the price of doubling hardware sales.
• Employee benefit expenses climbed 31.7% to Rs 25.36 crore from Rs 19.26 crore.
• Technical services outsourced expenses dropped 55.4% to Rs 14.53 crore from Rs 32.58 crore.
• Other expenses fell 4.9% to Rs 27 crore.

Total expenses rose just 2.1% to Rs 96 crore from Rs 94 crore. That near-flat cost base against 15.8% revenue growth is the arithmetic behind the 85% profit jump — net profit came in at Rs 37.52 crore versus Rs 20.27 crore in Q2 FY26.

How did the first half track?

The half-year numbers show steadier, less dramatic growth. H1 FY27 operating revenue rose 15.5% to Rs 271.5 crore from Rs 235 crore in H1 FY26. Net profit grew 30.1% to Rs 88 crore from Rs 67.65 crore.

Put plainly: the second quarter outpaced the half, which means acceleration, not deceleration, is the current trend.

Where does the mix stand now?

The revenue split is shifting under the company's feet. Map data and related services still anchor the business at Rs 99 crore, but they're flat. Hardware has gone from a Rs 14 crore sideshow to a Rs 33 crore contributor in a single year.

That shift cuts both ways. Hardware growth is real volume, but it brings the 71% jump in materials costs and thinner margins than software and map royalties historically deliver. The near-halving of outsourced technical services expenses — down Rs 18 crore year-on-year — suggests management is absorbing hardware expansion while trimming elsewhere.

MapMyIndia also booked Rs 16 crore in income from other sources, taking total income to Rs 148 crore for the quarter against Rs 124 crore a year earlier.

What does the market make of it?

The company's shares closed at Rs 890.20 apiece on Wednesday, valuing it at Rs 4,666 crore in market capitalisation.

The test ahead: whether hardware can keep doubling, or whether flat map-data revenue — Rs 100 crore to Rs 99 crore — starts to weigh on a company whose core identity is still geospatial software.