Genesys International Reports Rs 11.23 Crore Profit In Q2 2023

Digital maps and geospatial company Genesys International has posted a consolidated profit of Rs 11.23 crore in the September quarter.

The company had posted a loss of Rs 3.3 crore in the same period a year ago.

The consolidated revenue of Genesys International more than doubled to Rs 73.02 crore during the reported quarter from Rs 34.29 crore in the Sept 2023 quarter.

Genesys International Chairman and Managing Director Sajid Malik said the reported quarter's performance reflects the impact of the investments by the company in the New India map stack.

"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. We launched the automobile navigation vertical with our partnership with NNG, a global leader in automotive navigation software," Malik said.

"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," he added.