Route Mobile's Revenue Rises Amidst Decline in Profits

Route Mobile reported a 21.9% decline in net profit for Q3 FY24, reaching Rs 82.48 crore, compared to Rs 105.74 crore in the previous year. Despite this, revenue increased by 15.56%, totaling Rs 1,183.7 crore. Rajeshwar Singh Gill was named as the new Group Chief Financial Officer.

Route Mobile, a leading enterprise communication firm, reported a significant 21.9% decline in consolidated net profit for the third quarter of FY24, registering Rs 82.48 crore compared to Rs 105.74 crore a year earlier.

Despite a favorable increase in revenue from operations by 15.56% to Rs 1,183.7 crore, the profit margins narrowed, attributed in part to a challenging CPaaS market.

The company announced strategic leadership changes, appointing Rajeshwar Singh Gill as the Group Chief Financial Officer, amidst a backdrop of forex gains and exceptional items boosting various financial metrics.

(With inputs from agencies.)