Shares of Route Mobile climbed 13.3 percent on Tuesday, January 24 after the consolidated net profit of the company jumped 84.40 percent to ₹85.36 crore on a 75.16 percent surge in revenue from operations to ₹985.72 crore in Q3 FY23 over Q3 FY22.
Similarly, net profit rose 17.53 percent while net sales increased 16.54 percent in Q3 FY23 over Q2 FY23.
During Tuesday’s trade, the stock opened at a price of Rs. 1,178 per share against the previous close of Rs. 1,142.10 per share and grew further during the early trading session to touch an intraday high of Rs. 1,295.10. It was trading at ₹1,272.35 apiece, up by 11.40 percent at 10:50 a.m. on the BSE.
The stock touched a 52-week-high of Rs. 1888.90 on February 01, 2022 and a 52-week-low of Rs. 1,052 on June 23, 2022, indicating that at the current level, the stock is trading over 21 percent above its 52-week low and 32 percent below its 52 week high.
The stock has shown a negative growth of 4.50 percent in the last six months. Along similar lines, it has declined by 21.66 percent in the last one year. However, the stock has yielded a positive return of nearly 36 percent in the last five years.
On Monday, the company informed that its consolidated profit before tax stood at ₹103.13 crore in Q3 FY23, registering a growth of 87.20 percent from ₹55.09 crore recorded in the same quarter the previous year.
EBITDA improved to ₹128.3 crore in Q3 FY23, recording a growth of 66.19 percent year on year and 17.28 percent quarter on quarter. EBITDA margin decreased to 13 percent in Q3 FY23 as against 13.7 percent posted in Q3 FY22, the company added.
“We have surpassed our pre-IPO FY20 audited revenue of ₹9,563 million and an adjusted PAT of ₹843 million in just this quarter by clocking our best quarterly revenue of ₹9,857 million and an adjusted PAT of ₹1,010 million. This is despite the recent Covid issues, the Russia-Ukraine war, supply-side issues, and the current recessionary headwinds,” said Rajdipkumar Gupta, MD and group CEO of the company.
“Our focused approach, deep domain expertise, and, most importantly, our modular approach to creating multiple levers of growth across multiple geographies have been the bedrock of our success. We continue to progress significantly with quality deal wins across the CPaaS value chain,” he added.
In other news, the board of directors in its meeting to be held on Thursday, 26 January 2023 will consider a second interim dividend, if any, for the financial year 2022-23.
Route Mobile Limited is an India-based company, which provides communication platform as a service (CPaaS) solutions to enterprises, over-the-top (OTT) players, and mobile network operators (MNO). The company's portfolio of enterprise communication services includes smart solutions in application-to-person (A2P) messaging, voice, email, and SMS filtering, analytics & monetization.
According to a Mintgenie poll, an average of 6 analysts have a ‘STRONG BUY’ call on the stock.