Route Mobile net profit more than doubles to Rs 104 crore in Q4 FY23

Enterprise communication services firm Route Mobile on Friday reported an over two-fold jump in its consolidated net profit to Rs 104.05 crore in the fourth quarter ended March 2023.

The company posted a profit of Rs 47.42 crore in the same period a year ago.

The consolidated revenue from operations of Route Mobile grew 61 per cent to Rs 1,008.66 crore during the reported quarter from Rs 626.07 crore in March 2022 quarter.

"As we close out FY2023, it is my pleasure to share that Route Mobile has reached a significant milestone, achieving an annual run rate of half a billion dollars in revenue. It's remarkable to have the entire Route Mobile team continually raising the bar and achieving exceptional results that have helped propel our company's revenue to new heights.

"This is despite the slow pace of global economic development due to the ongoing battle against inflation," Route Mobile Managing Director & Group Chief Executive Officer Rajdipkumar Gupta said in a statement.

For the year ended March 31, 2023, the company's consolidated profit almost doubled to Rs 333.11 crore from Rs 170.08 in the financial year (FY) 2021-22.

The annual revenue from operations of Route Mobile increased by 78.4 per cent to Rs 3,608.63 crore in FY 2023 from Rs 2,022.09 crore a year ago.