Route Mobile Q4 Results | Net profit dips 9%, declares dividend of ₹2 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Enterprise communications firm Route Mobile Ltd on Monday (May 6) reported an 8.6% year-on-year (YoY) drop in net profit at ₹95.2 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Route Mobile posted a net profit of ₹104.1 crore, the company said in a regulatory filing. The company’s revenue from operations increased 0.8% to ₹1,017 crore against ₹1,008.7 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA dipped 4% to ₹125.4 crore in the fourth quarter of this fiscal over ₹132 crore in the year-ago period. The EBITDA margin stood at 12.3% in the reporting quarter compared to 13.1% in Q4 of FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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FY24

Route Mobile’s revenue from operations for the full year ended March 31, 2024, stood at ₹4,023.29 crore against ₹3,569.23 crore in FY23. Profit before tax stood at ₹455.08 crore for FY24 against ₹381.50 crore in FY23.

The company’s profit before tax margin stood at 11.31% (on revenue).  Profit after tax (PAT) was reported at ₹388.84 crore for FY24 against ₹333.11 crore in FY23. The PAT margin stood at 9.66% (on revenue).

The board has recommended a final dividend of ₹2 per equity share of Rs 10 each (20%) for the financial year 2023-24, subject to the shareholders’ approval.

If approved, the dividend will be paid (subject to deduction of tax at source) within 30 days from the date of the annual general meeting.

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The total dividend for the financial year ended March 31, 2024, aggregates to ₹11 per equity share of the face value of ₹10 each, including the interim dividend of ₹3 per equity share each as approved by the board of directors at their meeting.

Rajdip Gupta, MD and Group Chief Executive Officer of Route Mobile, said, “FY24 has been a remarkable year for Route Mobile. We registered our highest quarterly revenues in Q2 & Q3 and registered good growth in H1. We continue to acquire some large customers and deliver unique solutions across industries.”

The results came after the close of the market hours. Shares of Route Mobile Ltd ended at ₹1,537, up by ₹12.85, or 0.84%, on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow