Route Mobile shares rose over 12% today after the enterprise communication services firm reported a 28.33 per cent rise in consolidated profit for the quarter ended December 2021.
Stock of Route Mobile touched an intraday high of Rs 1,682.8, rising 12.56% against the previous close of Rs 1,495.05 on BSE. The stock has gained after nine days of consecutive fall. The stock opened with a gain of 5.28% at Rs 1,574. Route Mobile stock is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The shares have gained 44% in one year but lost 6.87% since the beginning of this year. Total 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 2.85 crore.
Market cap of the firm rose to Rs 10,259 crore on BSE. Net profit rose to Rs 48.27 crore in Q3 against profit after tax of Rs 37.62 crore in the corresponding period of previous fiscal.
Sales climbed 46.23% to Rs 562.77 crore in Q3 against Rs 384.84 crore in the corresponding quarter of previous fiscal. Operating profit excluding other income stood at Rs 60.84 crore, surging 36.08% to Rs 44.71 crore.
Meanwhile , Sensex and Nifty were trading with strong gains in early trade today.. Sensex rose 746 points to 58,023 and Nifty zoomed 228 points to 17,338.
A cloud communications platform service provider, Route Mobile's clientele includes enterprises, over-the-top (OTT) players, and mobile network operators. Its portfolio includes solutions in messaging, voice, email, SMS filtering, analytics, and monetisation, with client base across segments such as social media companies, banks, and financial institutions, e-commerce entities, and travel aggregators.
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