Mumbai: Route Mobile Limited (“Route Mobile”) cloud communication platform service provider to enterprises, over-the-top (“OTT”) players, and mobile network operators has announced its financial results for the third quarter ended on 31 December 2023.
Highlights for Q3FY24 (YoY) Consolidated Financials -
Revenue from operations stood at Rs 1,024.3 crore as against Rs 985.7 crore in Q3FY23
Profit Before Exceptional Items and Tax stands at Rs 116.6 crore as against Rs 103.1 crore in Q3FY23
Profit after Tax (PAT) reported was at Rs 113.6 crore as against Rs 85.4 crore in Q3FY23. PAT in Q3 FY24 was boosted by exceptional items amounting to Rs 15 crore, representing the fair value gain, as on 31 December 2023, of the contingent consideration payable towards the acquisition of 100 per cent equity stake in M.R Messaging FZE
EPS stands at Rs 16.89 (basic) and Rs. 16.66 (diluted)
Q3 FY24 vs. Q2 FY24 (Consolidated)
Revenue from operations for the quarter ended 31 December 2023, stood at Rs 1,024.3 crore as compared to Rs 1,014.6 crore in Q2 FY24 results.Profit before Exceptional Items and Tax (PBT) stood at Rs 116.6 crore for Q3 FY24 as compared to Rs 103.8 crore in Q2 FY24. The company’s PBT margin stood at 11.4 per cent
Profit after Tax (PAT) reported at Rs 113.6 crore for Q3 FY24 as against Rs 88.4 crore in Q2 FY24. PAT margin stood at 11.1 per cent. PAT in Q3 FY24 was boosted by exceptional Items amounting to Rs 15.0 crore, representing the fair value gain, as on 31 December, 2023, of the contingent consideration payable towards the acquisition of 100 per cent equity stake in M.R Messaging FZE
Commenting on the results, Route Mobile Limited, managing director & group chief executive officer Rajdipkumar Gupta said, “ I am delighted to share that we have registered our best quarterly revenues during the quarter gone by. It was a slightly muted performance, considering Q3 is historically our best quarter. This is due to the industry headwinds and delays in a couple of our large contracts going live. We have recently onboarded some large customers in Asia and Europe and they should gradually ramp up”. He also said, “We are encouraged by the growing adoption of channels like WhatsApp and RCS, some of our latest contract wins are equivalent to the monthly revenues of these product lines. The evolving messaging landscape is creating exciting opportunities for us to welcome numerous new clients to our omnichannel platform.”
Talking about the Proximus deal, he added, “We have secured the most important US approval and are in striking distance of the deal closure. A couple of regulatory approvals from the Middle East are awaited anytime soon”.
