The shares of Genesys International Corporation dropped over 14 percent to hit an intraday low of Rs 665 per share on February 17 so far. This is the lowest level the stock has seen in six months. The stock has faced significant downturn recently, extending losses for the third consecutive session.
Genesys released its results for the quarter which ended on December 31, 2024 in the post market hours of February 14. The stock saw a significant decline on February 17 morning as markets reopened after the weekend.
The mapping services provider reported a net profit of Rs 20.66 crore for the third quarter of the current financial year (FY25). This marks a jump of over 30 percent from the Rs 15.86 crore net profit reported in Q3 of previous financial year. Its revenue from operations meanwhile surged over 50 percent to Rs 89.09 crore in Q3 FY25, from Rs 59.34 crore in Q3 FY24.
The company's EBITDA also improved over 33 percent on-year to Rs 44 crore.
Along with the Q3 results, the company also announced that its board has approved the proposal to raise up to Rs 350 crore through qualified institutional placement (QIP) or other methods.
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Speaking about the Q3 results, the company's Chairman and Managing Director Sajid Malik said, "The results of this quarter reflect the ongoing execution of and increasing acceptance of our map stack. The use of location intelligence will become more pervasive to solve many consumer, enterprise and governance applications. The company has developed a wide array of capabilities in many critical applications and the results of that will also continue in the coming future. Notably, our performance reflects the successful delivery of key geospatial projects in the 3D digital twin space, paving the way for increased traction going forward."
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