Route Mobile Revenue from Operations Stands At ₹967.34 Cr In Q1FY24

Route Mobile Limited (Route Mobile), a leading cloud communication platform service provider to enterprises, over-the-top (“OTT”) players and mobile network operators, has announced its financial results for the first quarter ended on 30th June, 2023.

Q1FY24 Vs Q4 FY23 (Consolidated)

Revenue from operations for quarter ended June 30th, 2023 stood at ₹967.34 crore as compared to ₹1,008.66 crore in Q4FY23.

Profit Before Tax (PBT) stood at ₹110.23 crore for Q1FY24 as compared to ₹120.36 crore in Q4FY23. The company’s PBT margin stood at 11.4 percent.

Profit After Tax (PAT) reported at ₹91.69 crore for Q1FY24 as against ₹104.05 crore in Q4 FY23. PAT margin stood at 9.5 percent.

“I am thrilled to share that Q1, despite being a seasonally weak quarter, we had an excellent start to financial year FY 23-24 with an exemplary 33% y-o-y growth. We are well on track to achieve our revenue growth guidance for FY 23-24. We have seen a robust growth in CPaaS and Firewall business with the signing of large contracts. We will also continue to gain significant market share in India and benefit from the NLD (domestic) price increase, slated to happen from August 1, said Rajdipkumar Gupta, Managing Director & Group Chief ExecutiveOfficer, Route Mobile Limited.

Regarding the Proximus deal, he said, “The Proximus partnership strategically positions Route Mobile for immense growth across multiple high-potential markets like the USA. There will be a lot of synergies to be explored in the Digital Identity space through collaboration between TruSense and Telesign Products. Our immense presence in emerging markets will amplify the reach of innovative products in digital fraud prevention.

Route Mobile Ltd. shares

The shares of Route Mobile Ltd on Friday at 3:30pm IST were at ₹1,504, down by 2.19 percent.

Published on: Friday, July 28, 2023, 04:19 PM IST