Revenue from operations for the quarter ended December 31, 2023, stood at Rs. 1,024.3 cr.
FinTech BizNews Service
Mumbai, January 23, 2024: Route Mobile Ltd. has announced Q3 FY24 results. Q3FY24 Revenue from Operations stands at Rs1,024.3 crore, PAT stands at Rs113.6 Crore.
Highlights for Q3FY24 (YoY) Consolidated Financials
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 December 31, 2023, stood at Rs. 1,024.3 crore as compared to Rs. 1,014.6 crore in Q2 FY24
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%.
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%. PAT in Q3 FY24 was boosted by Exceptional Items amounting to Rs. 15.0 crore, representing the fair value gain, as on December 31, 2023, of the contingent consideration payable towards the acquisition of 100% equity stake in M.R Messaging FZE
Commenting on the results, Mr. Rajdipkumar Gupta, Managing Director & Group Chief Executive Officer, Route Mobile Limited, 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”.
About Route Mobile Limited (www.routemobile.com) (BSE: 543228; NSE: ROUTE)
Established in 2004, Route Mobile Limited ("RML") is a cloud communications platform service provider catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO). RML's portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics, and monetization. RML has a diverse enterprise client base across various industries, including social media companies, banks and financial institutions, e-commerce entities, and travel aggregators. RML is headquartered in Mumbai, India, with a global presence in Asia Pacific, the Middle East, Africa, Europe, and the Americas.
