From Rs 200.4 crore in FY22 to Rs 281.46 crore in FY23, MapmyIndia's revenue from operations increased 1.4X to Rs 281.46 crore. Total yearly expenses increased by 41 per cent to Rs 176.24 crore in the fiscal year ended March 2023, up from Rs 124.66 crore in FY22.
Profit after tax (PAT) increased by 25 per cent to Rs 28.31 crore in the fourth quarter (Q4) of FY23, from Rs 22.58 crore the previous year. MapmyIndia's consolidated profit after tax PAT increased by 23 per cent to Rs 107.53 crore in fiscal year 2022-23 (FY23) from Rs 87.07 crore in fiscal year ending March 2022.
Total income increased by 30 per cent year on year to Rs 315.78 crore in FY23, from about Rs 242 crore in FY22. MapmyIndia generates revenue by selling subscription services, licencing, hardware, and map data to enterprise customers.
Meanwhile, MapmyIndia's overall expenses increased 41 per cent from Rs 124.66 crore in FY22 to Rs 176.24 crore in FY23. Employee benefit expenses accounted for the lion's share of expenditure in FY23, totaling Rs 66.19 crore, a 15 per cent increase from Rs 57.53 crore in the previous fiscal year.
In addition, the company spent Rs 8.45 crore on marketing and promotional operations, while Rs 48.15 crore was spent on expenses relating to 'total cost of material.' Meanwhile, other expenses increased 26 per cent year on year to Rs 25.60 crore in the fiscal year under review, compared to Rs 20.17 crore in FY22.