Route Mobile incorporates step-down subsidiary in US

Route Mobile announced that its wholly-owned subsidiary, Route Mobile (UK), UK has incorporated a subsidiary, 'Send Clean INC.', in Delaware, USA.

Send Clean INC has been incorporated with effect from 7 July 2021. It is a wholly-owned subsidiary of Route Mobile (UK). Route Mobile (UK) has subscribed 1,000 shares of Send Clean INC at $1 per share (cash consideration).

Send Clean will be involved in the business of AI-enabled cloud based email marketing platform and market automation. This new entity formation is expected to further strengthen the company's organic growth strategy.

Route Mobile reported 139.8% jump in consolidated net profit to Rs 35.47 crore in Q4 FY21 as against Rs 14.79 crore in Q4 FY20. Net sales during the quarter increased 36.4% year-on-year (Y-o-Y) to Rs 362.44 crore.

 

Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO).

Shares of Route Mobile lost 0.44% to Rs 2,069.25 on BSE. The stock hovered in the range of Rs 2,065.80 to Rs 2,099 so far.

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