Route Mobile slips over 2.5% despite 28.3% yoy increase in Q2 PAT at Rs42.2cr

The company recorded a 24.73% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs435.67cr.

Oct 19, 2021 02:10 IST India Infoline News Service

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Route Mobile Ltd reported consolidated Profit after tax (PAT) for the Sep-21 quarter was up 28.29% at Rs42.17cr. The spike in profits was largely led by a 4-fold jump in India EBIT, a 6-fold jump in Dubai EBIT and a 50% jump in Nigeria EBIT. The larger contributor to EBIT, the UK vertical, saw EBIT grow by 5% you.

The company recorded a 24.73% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs435.67cr. The revenues were higher by 15.40% on a sequential basis compared to Rs377.52cr revenues in the Jun-21 quarter.

The stock price is currently trading at Rs2,206.50 down by Rs56.85 or 2.51% from its previous closing of Rs2,263.35 on the BSE. The scrip opened at Rs2,345 and has touched a high and low of Rs2,350 and Rs2,186.85 respectively.

The Earnings before Interest, Tax, Depreciation and Amortization (‘EBITDA’) stood at Rs. 110.80 crore in H1FY22. The Company’s EBITDA margin stood at 13.63%.

Commenting on the results, Mr. Rajdipkumar Gupta, Managing Director & Group Chief Executive Officer, Route Mobile Limited, said, “We are pleased with our overall performance through Q2, the launch of SendClean - our self-serve email delivery platform, as well as integrating our APIs on few leading CRMs. Our recent proposed acquisitions in LATAM & Kuwait will enable us to grow our business within these regions.” He further added, “Moreover, the launch of our Global Developer API Challenge (Hackathon) under our flagship program RAPID, promises to bring in newer ideas to help us simplify communication for businesses. I’m equally excited to see our fully vaccinated colleagues back to office, given our paramount emphasis on health and safety.”

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