Route Mobile Q3 Net Profit Down 22% to Rs 82.48 Cr

New Delhi, Jan 28 (PTI) Enterprise communication firm Route Mobile on Tuesday reported a 21.9 per cent decline in consolidated net profit to Rs 82.48 crore for the October-December quarter.

It had posted a net profit of Rs 105.74 crore in the year-ago period.

Its revenue from operations for the quarter under review rose 15.56 per cent to Rs 1,183.7 crore against Rs 1,024.3 crore in Q3 FY24.

"We have posted our highest-ever quarterly revenue despite a relatively slow festive season. We continue to grow at a faster rate as compared to the industry average. The CPaaS industry is facing certain challenges. However, we continue to remain optimistic about our growth opportunities," said Gautam Badalia, Group Chief Executive Officer, Route Mobile.

Sequentially, its profit fell 18.5 per cent while revenue increased by 6.3 per cent.

The company also announced the appointment of Rajeshwar Singh Gill as Group Chief Financial Officer.

Profit After Tax (PAT) at Rs. 85.47 crore FY24 was boosted by a forex gain of Rs 14.7 crore and exceptional items amounting to Rs 15.04 crore, which is fair value gain on contingent consideration pertaining to acquisition of a subsidiary in previous years compared to a forex loss of Rs 4.3 crore in Q3 FY25, a company statement said.

"It was further boosted by a forex gain of Rs 25 crore and exceptional item amounting to Rs 6.28 crore, which is net of the fair value gain on contingent consideration pertaining to the acquisition of a subsidiary in previous years and recognition of impairment loss of goodwill pertaining to a step-down subsidiary as compared to a forex loss of Rs 4.3 crore in Q3 FY25," it added.

Shares of Route Mobile settled at Rs 1,200 apiece on the BSE on Tuesday, 0.03 per cent higher from the previous close.