Route Mobile Limited has announced its financial results for the quarter ended (QE) December 31, 2023. During the quarter, revenue from operations stood at Rs 10.24 billion as against Rs 10.14 billion in QE September 2023 and Rs 9.85 billion in QE December 2022.
Meanwhile, profit before tax (PBT) for the company stood at Rs 1.16 billion for the third quarter (Q3) of the fiscal year 2023-24 (FY24) as compared to Rs 1038 million in QE September 2023 and Rs 1031 million in QE December 2022. The company’s PBT margin stood at 11.4 per cent. Besides, the company registered substantial increase in the profit after tax (PAT) to the tune of Rs 1.13 billion for Q3 FY24 as against Rs 884 million in the previous quarter and Rs 854 million during December quarter a year ago. PAT in Q3 FY24 was boosted by exceptional items amounting to Rs 150 million, representing the fair value gain, as on December 31, 2023, of the contingent consideration payable towards the acquisition of 100 per cent equity stake in M.R Messaging FZE. Further, the earnings per share (EPS) for the company stood at Rs 16.89 (basic) and Rs 16.66 (diluted).
Commenting on the results, Rajdipkumar Gupta, managing director and group chief executive officer (CEO), 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. We are encouraged by the growing adoption of channels like WhatsApp and rich communication services (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.”
With regard to the Proximus deal, Gupta said, “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.”
