Shares of MapmyIndia declined 12 per cent to 52-week low of Rs 1271.65 per share in Friday's intraday trade on the BSE. The drop in the share price comes after the Software company reported a 27% YoY decline in profits at Rs 18.5 crore as against a profit of Rs 25.4 crore. The trigger to this fall could be rooted in lifting of 30-day mandatory lock-in expiry of CE Infosystem Ltd, which expired last week on January 17.  

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Shares of this digital mapping services provider have dropped 18.52% or Rs 325.55 in the last five trading sessions as on January 28, 2022, on the NSE. 

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At 9.50am, shares of MapmyIndia were trading lower by Rs 112.65 or 7.84% to Rs 1323.70 per share on the BSE.  

Shares of MapmyIndia were listed at a premium of 53.05% to Rs 1581 per share against its issue price of Rs 1,033 on the BSE. .   

MapmyIndia is a leading provider of digital maps, geospatial software and location-based lot technologies. It boasts of big clients such as HDFC Bank, Airtel, TVS Motors, Ministry of Finance, ISRO, Facebook, McDonald's, Maruti Suzuki and Mercedes Benz etc. 

Earlier, the company's profit fell 14% sequentially from Rs 21.6 crore posted in September 2021 quarte. Revenue from operations declined 23% YoY to Rs 43.4 crore compared to Rs 56.7 crore.  

Sequentially, the revenue declined 11% from Rs 48.6 crore posted in September 2021 quarter. EBITDA fell 40% YoY to Rs 15.56 crore as against Rs 26.1 crore. Sequentially, EBITDA declined 21% from Rs 19.7 crore posted in the previous quarter. Margin stood at 36% in Q3FY22 as against 46% posted in Q3FY21 and 41% posted in Q2FY22. Besides, the company has approved the purchase of a 10% stake in Pupilmesh Pvt Ltd for Rs 50 lakhs.