Route Mobile Limited releases financial results for QE June 30, 2023

Route Mobile Limited has announced its financial results for the first quarter ended June 30, 2023. Revenue from operations for the reported quarter stood at Rs 9.67 billion as compared to Rs. 10.08 billion in Q4 FY23.

Meanwhile, profit before tax (PBT) during the quarter stood at Rs 1.10 billion for Q1 FY24 as compared to Rs 1.20 billion in the previous quarter. The company’s PBT margin stood at 11.4 per cent. Profit after tax (PAT) was reported at Rs 916.9 million for Q1 FY24 as against Rs 1.04 billion in Q4 FY23. PAT margin stood at 9.5 per cent.

Commenting on the results, Rajdipkumar Gupta, managing director and 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 2023-24 with an exemplary 33 per cent year-on-year (YoY) growth. We are well on track to achieve our revenue growth guidance for FY 23-24. We have seen a robust growth in communication platforms as a service (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 national long distance (NLD) (domestic) price increase, slated to happen from August 1.”

He added, “We are again recognised as a Tier-1 vendor in application-to-person (A2P) SMS Market Impact Report in MNO and enterprise categories. This shows the confidence and trust our partners and customers have in us.”

With regard to the Proximus deal, Gupta said, “The Proximus partnership strategically positions Route Mobile for immense growth across multiple high-potential markets like the US. 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.”