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    Quarterly results: Mapping Co Genesys International reports a 48% rise in revenue

    Genesys International Corporation Limited, a company that provides mapping, survey, and geospatial services, has reported a standalone revenue of Rs. 70.11 crore for the fourth quarter of the financial year 2024 (Q4FY24) ending on March 31, 2024. This marks a 48% rise from its revenue in the same quarter last year, which stood at Rs. 47.39 crore. On a quarterly basis, the company’s revenue increased by Rs. 9.86 crore.

    The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs. 37.24 growing 109% year on year (YOY) and 16.48% quarterly. Genesys’ EBITDA margin for the quarter was 53.11%, an improvement from the previous year where it stood at 37.56%. EBITDA margins were fairly consistent quarterly.

    Quarterly results: Mapping Co Genesys International reports a 48% rise in revenue

    The most marked improvement is visible in the company’s profit after tax, which rose by 109% year on year, going from Rs. 8.04 crore in Q4FY23 to Rs. 21.52 crore in Q4FY24. On a quarterly basis, the profit after tax rose by 4.72% compared to the previous quarter.

    Genesys’ work in creating digital twins of Indian cities:

    Genesys’ Chairman and Managing Director, Sajid Malik says that the growth evidenced this quarter is a result of the company’s investments in the New India map stack. The Survey of India announced its deal with Genesys in November 2023. As a part of this deal, Genesys will create digital twins of major Indian cities by 2035, according to a report by the Times of India. Digital twins are virtual models of an object that accurately reflect said object. Digital twins of cities, like the ones Genesys is working on, act as “virtual, living mirrors” of their physical counterparts, simulating everything about a city from its infrastructure to traffic patterns.

    As per the company’s exchange filings, in Q4FY24 (January-March 2024), Genesys bagged deals to—

    • Create a digital twin of Varanasi for Rs. 7 crores in collaboration with Varanasi Smart City Limited (VSCL), covering an area of 160 square kilometers.
    • Create a 3D city model and map stack for Mumbai and also update the same for 3 years from the Brihanmumbai Municipal Corporation (BMC) for Rs. 155.85 crore.

    In April, the company received an order for the adoption of digital twin technology in Pune for Rs.35 crore. In the press release announcing the deal, Genesys said that this is the “first time in India, a 3D Digital Twin will be seamlessly integrated with a Command and Control Centre, incorporating various IoT [internet of things] sensors.” 

    Also read:

    The post Quarterly results: Mapping Co Genesys International reports a 48% rise in revenue appeared first on MEDIANAMA.

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