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Genesys Net Profits Down 76% YoY to Rs 1.74 crore in Q1-FY15

Genesys International Corporation, the parent company of street-view portal WoNoBo, reported operating revenues of Rs 15.95 crore for the quarter ended June 30, 2014 (Q1-FY15). It is down 47% from the Rs 30.17 crore reported in the corresponding quarter last year. However, it is 177.6% higher than the Rs 5.74 crore operating revenues reported in the previous quarter, Q4-FY14. The company reported net profits (after tax) of Rs 1.74 crore, down 76% from Rs 7.40 crore net profits reported in Q1-FY14. The company had reported net loss of Rs 5.57 crore in the previous quarter. Started in 1995, Genesys has been primarily working in the overseas market as a Geographical Information Systems (GIS) outsourcing company. It has worked for Microsoft’s search engine Bing and NAVTEQ. The company also works in areas like, imagery acquisition, photogammetry, remote sensing, and data conversion among other things. WoNoBo, launched in October 2013, was Genesys’ first foray into the B2C mapping business space. WoNoBo launched its Android app, earlier this year. WoNoBo's Realty section: Earlier this year, the street-view mapping service also added a property section. This feature is currently in beta testing phase, and only Mumbai properties are listed at present. Properties in Delhi are expected to be added to the section closer to the public launch. This feature allows users to virtually navigate through streets and search for residential and commercial properties up for sale or rent. WoNoBo also offers a street-view like 3D navigation within individual apartments, and a 360 degree virtual…

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