| – | Map-led business EBITDA margin was strong at 54.1%. IoT-led business EBITDA margin continued to expand quarterly and was at 6.3% in Q1FY24 versus 4.0% of Q4FY23, as SaaS income from IoT grew. |
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| – | During Q1FY24, we outlined a 5-year vision of a growth roadmap for the company, and are putting in place the requisite foundations that will drive long-term success of the company. We are also delighted with the surge in interest and usage of our consumer-facing Mappls MapmyIndia app amongst users, which resulted in Mappls app becoming the top app in the app store recently. This bodes well for the B2C future of the company, in addition to the B2B and B2B2C where we have been traditionally strong. |
| – | Our strong Q1 YoY revenue growth was broad based with A&M (Automotive & Mobility Tech) up 24% and C&E (Consumer Tech & Enterprise Digital Transformation) up 51% on the market side. On the products side, Map & Data was up 41% and Platform & IoT was up 35%. We’re happy with the large number of customer go lives that occurred during Q1FY24 including many consumer technology companies and startups, corporates across industry sectors, automotive OEMs including EVs and 2- Wheelers, and government and logistics/mobility fleets. This bodes well for our future growth. |
| – | Cash continued to increase in this quarter as well. |
| – | IoT-led business is growing steadily, with expectations of expanding margin with the growth of SaaS income. |
| – | Automotive business is growing faster than industry volume growth, with increasing adoption of MapmyIndia solutions in EVs and ADAS vehicles. |
| – | International business is a focus area for future growth, with efforts to build international maps and expand presence in international markets. |
| – | Revenue growth projection of 40%+ for the year is on track. |
| – | Working with defense industry clients and seeing opportu |
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