Genesys International Posts Impressive Q4 Results with 590% Profit Surge

Genesys International Corporation reported a significant rise in net profit to Rs 14.85 crore for the March quarter of 2024, up from Rs 2.15 crore in the previous year. Total revenue increased by 49% to Rs 71.63 crore. Chairman Sajid Malik attributed the growth to the success of the New India Map stack initiative.

Genesys International Corporation, which is into advanced mapping, survey and geospatial services, reported an increase in net profit to Rs 14.85 crore in the March quarter.

The net profit stood at Rs 2.15 crore in the year-ago period, the company said in a release. The total revenue rose 49 per cent to Rs 71.63 crore during the March 2024 quarter.

Genesys International Corporation Chairman and Managing Director Sajid Malik said the latest results mark the initial impact of the diligent efforts the company has invested in the New India Map stack.

''The adoption of the company's content program has gained significant traction, and during this quarter, the company secured several prestigious contracts that will be beneficial for its future,'' Malik said.

In the upcoming quarters, the company anticipates substantial progress in terms of product launches across key verticals, he added. For the entire FY24, the company's net profit was Rs 22 crore for, up from Rs 19 crore in the year-ago period, the release said.

The total revenue, too, came in higher at Rs 203.3 crore from Rs 187.63 crore in FY23, it added.