Q1FY24 Revenue from Operations stands at Rs. 967.34 crore, PAT stands at Rs. 91.69 Crore
Mumbai: July 29th, 2023: 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.
Q1 FY24 Vs Q4 FY23 (Consolidated)
Revenue from operations for quarter ended June 30th, 2023 stood at Rs. 967.34 crore as compared to Rs. 1,008.66 crore in Q4 FY23
Profit Before Tax (PBT) stood at Rs. 110.23 crore for Q1 FY24 as compared to Rs. 120.36 crore in Q4 FY23. The company’s PBT margin stood at 11.4% Profit After Tax (PAT) reported at Rs. 91.69 crore for Q1 FY24 as against Rs. 104.05 crore in Q4 FY23. PAT margin stood at 9.5%
Commenting on the results, Mr. Rajdipkumar Gupta, Managing Director & Group Chief Executive Officer, Route Mobile Limited, said, “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.” He further added, “We are again recognized as a Tier1 vendor in A2P SMS Market Impact Report in MNO & Enterprise categories. This shows the confidence and trust our partners and customers have in us”.
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. I am tremendously optimistic that this transformational union will unlock immense shareholder value as we embark on the next stage of our hyper growth journey.”