Location Tech Firm Sees Weak Quarter Amid Decline in Core Mapping Revenue
Revenue Decline Driven by Core Digital Mapping Segment
CE Info Systems, the parent of MapMyIndia, reported an 18% year-on-year decline in revenue for Q3 FY26. Revenue from operations fell to ₹94 crore from ₹114.5 crore in the same quarter last year, according to its filing with the National Stock Exchange.
The company’s core digital mapping and location-based services segment, which contributes the majority of revenue, declined 23.5% to ₹78 crore in the quarter. This segment includes income from digital map data, GPS navigation, location intelligence, and IoT solutions, accounting for 83% of total revenue.
Nine-Month Performance Shows Modest Growth
Despite quarterly pressure, MapMyIndia reported modest growth over a longer period. Revenue for the nine months ended FY26 rose 3% to ₹329 crore from ₹320 crore a year earlier. The company also generated ₹15 crore from device sales during Q3 FY26, providing some diversification beyond its core software-driven revenue streams.
Profit Impacted by Higher Outsourcing Costs
Profit declined sharply during the quarter, falling 41% to ₹19 crore compared to ₹32 crore in Q3 FY25. However, profit rose slightly on a sequential basis from ₹18.5 crore in Q2 FY26.
One of the key cost drivers was technical service outsourcing, which more than tripled to ₹33 crore. Total expenses stood at ₹75 crore, slightly lower than ₹79 crore in the previous year, reflecting ongoing cost management efforts.
MapMyIndia closed the trading day at ₹1,223.70 per share, with a market capitalisation of ₹6,696 crore. The results highlight near-term pressure on location-tech revenues while the company continues investing in IoT and digital mapping capabilities.
Keep building. Keep learning. Keep growing with StartupByDoc.