Route Mobile Jumps 13% on Stellar Q3, Best Quarterly Revenue: Nifty 500 Star

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Route Mobile Jumps 13% on Stellar Q3, Best Quarterly Revenue: Nifty 500 Star

By Malvika Gurung

Investing.com -- Shares of the telecom company Route Mobile (NS: ROUT ) rallied 13.4% to Rs 1,295.35 apiece on Tuesday in a volatile market, in response to a strong December quarterly earnings show. The stock was the top gainer on the broadest market index Nifty 500 .

The company’s consolidated net profit spiked 84.4% YoY and 17.53% QoQ to Rs 85.36 crore in Q3, thanks to its best quarterly revenue of Rs 985.72 crore, surging 75.16% YoY and 16.54% sequentially. 

The leading cloud communication platform service provider’s EBITDA jumped 66.2% YoY and 17.3% QoQ to Rs 128.3 crore, while the EBITDA margin remained flat at 13% in Q3 from the preceding quarter but slipped from 13.7% in the Dec 2021 quarter. Its gross profit margin surged to 22.4% in Q3 FY23 from 21.1% in the year-ago period.

The mid-cap company’s Board of Directors will meet on Thursday, January 26, 2023, for consideration and declaration of a second Interim Dividend for FY23.

“It gives me great pride to highlight that we have surpassed our pre-IPO FY2020 audited revenue of Rs 9,563 million and an adjusted PAT of Rs 843 million in just this quarter by clocking our best quarterly revenue of Rs 9,857 million and an adjusted PAT of Rs 1,010 million. This is despite the recent Covid issues, the Russia-Ukraine war, supply-side issues, and the current recessionary headwinds,” said the company’s MD & Group CEO Rajdipkumar Gupta.

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