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Written by 5:25 pm Sustainable Manufacturing

Genesys International back in black, posts ₹11 crore Q2 profit, revenue zooms to ₹72 crore

Digital maps and geospatial company Genesys International Corporation Ltd on Monday (October 28) reported a net profit of ₹11.1 crore for the second quarter that ended September 30, 2024.

In the corresponding quarter of the previous fiscal, Genesys International posted a net loss of ₹3.4 crore, the company said in a regulatory filing. The company’s revenue from operations zoomed 116.87% to ₹72 crore as against ₹33.2 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA zoomed 281.82% to ₹29.4 crore in the second quarter of this fiscal over ₹7.7 crore in the corresponding period in the previous fiscal.

Also Read: Adani Power Q2 Results | Net profit halves to ₹3,298 crore, revenue up 3%
EBITDA margin stood at 40.8% in the reporting quarter as compared to 23.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Sajid Malik, Chairman and Managing Director, said, “Several cities have begun adoption of our digital twin solutions and we expect to gain significant traction in the same given the marquee status of the cities that we are working in.

Of the markets that we hope to address with our New India map stack, we launched the automobile navigation vertical with our partnership with NNG, a global leader in automotive navigation software.

Also Read: Kalpataru Projects Q2 Results | Net profit surges 40% led by robust order book

We have had a good market reception of the same. In the coming two quarters we hope to launch two new verticals in location intelligence with our map stack in India. In Saudi Arabia, we strengthened our market position in the burgeoning Saudi geospatial market with two new strategic wins.”

The results came after the close of the market hours. Shares of Genesys International Corporation Ltd ended at ₹721.90, up by ₹49.30, or 7.33% on the BSE.

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