Route Mobile Records 9% Dip in Q4 Profit, Posts Rs 95 Crore

SBLC shall be issued to enable ICICI Bank IBU Gift City to extend the bank guarantee facility to Route Mobile UK Ltd, the company said.

Enterprise communication firm Route Mobile on Monday posted 8.5 per cent decline in consolidated net profit at Rs 95.16 crore for the fourth quarter ended March 31, 2024.

The company had clocked a net profit of Rs 104.05 crore in the same period a year ago, according to a BSE filing.

Revenue from operations remained almost flat at Rs 1,017.03 crore as compared to Rs 1,008.66 crore in March 2023 quarter.

In FY24, net profit increased about 17 per cent to Rs 388.84 crore from Rs 333.11 crore a year ago. Annual revenue increased to Rs 4,023.29 crore from Rs 3,569.23 crore.

''We registered our highest quarterly revenues in the second and third quarter and registered good growth in the first half. We continue to acquire some large customers and deliver unique solutions across industries,'' Route Mobile Managing Director and Group CEO Rajdip Gupta said.

The company's board has approved availing financial assistance by way of SBLC (standby letter of credit) not exceeding Rs 100 crore from ICICI Bank against the security of fixed deposit of amount not exceeding Rs 105 crore. SBLC shall be issued to enable ICICI Bank IBU Gift City to extend the bank guarantee facility to Route Mobile (UK) Ltd, the company said.

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