Shares of Route Mobile Ltd fell by nearly 5% after the enterprise communications firm reported an 8.6% year-on-year decrease in net profit for the fourth quarter ended March 31, 2024.
Additionally, the company’s revenue growth for the full fiscal year 2024 fell short of its guidance.
Route Mobile posted a net profit of ₹95.2 crore in the fourth quarter, compared to ₹104.1 crore in the corresponding period last year. The company’s revenue from operations increased by a modest 0.8% to ₹1,017 crore, up from ₹1,008.7 crore in the previous fiscal year.
At the operating level, Route Mobile’s EBITDA (earnings before interest, tax, depreciation, and amortization) dropped 4% to ₹125.4 crore in the fourth quarter, compared to ₹132 crore in the year-ago period.
The EBITDA margin stood at 12.3% in the reporting quarter, down from 13.1% in the fourth quarter of the previous fiscal year.
For the full year ended March 31, 2024, Route Mobile’s revenue from operations stood at ₹4,023.29 crore, compared to ₹3,569.23 crore in the previous fiscal year.
The company’s profit before tax was ₹455.08 crore for the fiscal year 2024, while profit after tax was reported at ₹388.84 crore.
As of 10:30 am, Route Mobile shares were trading 4.49% lower at ₹1,466.05 on the National Stock Exchange (NSE).
