Route Mobile share has delivered over 182% returns to shareholders since its market debut in September last year. The mid cap share has surged from its listing price of Rs 717 on September 21,2020 to Rs 2,025 in the current trading session. In comparison, Sensex has surged nearly 48% during the period.
An amount of Rs 1 lakh invested in the Route Mobile stock on September 21 last year would have turned into Rs 2.82 lakh today. The stock has gained 2.44% in the last 2 days.
Route Mobile share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 83% since the beginning of this year. The mid cap share hit all time high of Rs 2,308 on July 5,2021 and all time low of Rs 625 on September 21, 2020.
Total 3,947 shares changed hands amounting to turnover of Rs 79.55 lakh on BSE today. Market cap of the firm stood at Rs 11,610 crore. For the quarter ended June 2021, promoters held 65.35% stake and public shareholders owned 34.65% stake in the firm.
66 foreign portfolio investors held 90.11 lakh shares or 15.61% stake in the firm at the end of June quarter.
Eight mutual funds owned 2.13% stake or 12.30 lakh shares of the firm in last quarter.
The cloud communications platform provider has outperformed its peers in terms of stock market returns in nearly one year. While share of TCS has gained 66.45%, Infosys stock has risen 81.58% in one year.
Stock of another player in the industry Wipro rose 131.13% in one year and HCL Tech share could manage decent gains of 65.07% for its shareholders during the period under consideration.
The stellar performance of the stock is in line with the firm's financials. The firm reported a 27.44% rise in Q1 net profit to Rs 34.3 crore against net profit of Rs 26.9 crore in June quarter of last fiscal.
Sales climbed 22% to Rs 377.5 crore in Q1 against Rs 309.86 crore in corresponding quarter of last fiscal.
On a quarter-on-quarter basis, sales rose 4.16% from Rs 362.44 crore in Q4 of last fiscal. Profit
However, net profit dipped marginally from Rs 35.47 crore in quarter ended March for last fiscal as Covid -19 lockdown affected business sentiment.
On an yearly basis, sales zoomed 47% to Rs 1,406.17 crore for the fiscal ended March 2021 against Rs 956.25 crore sales for March 2020 fiscal.
Net profit climbed 92.11% to Rs 132.75 crore in last fiscal against Rs 69.10 crore profit for March 2020 fiscal. Earnings per share rose to Rs 24,76 in last fiscal against Rs 13.83 for fiscal ended March 2020.
Route Mobile share made a strong market debut on September 21 last year, delivering over 100% gains to its investors. Stock of Route Mobile listed at a premium of 102.28% above its IPO issue price of Rs 350 on BSE. The share opened at Rs 708, gaining Rs 358 compared to its issue price. On NSE, the share opened at Rs 717, gaining 104.85% to its issue price of Rs 350.
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