Route Mobile Q1 Results: Net profit rises 29% to Rs 92 crore

Enterprise communications firm Route Mobile on Friday posted a 29 per cent increase in consolidated net profit to Rs 91.69 crore in the June quarter. Route Mobile had registered a profit of Rs 71 crore in the same period a year ago.

The consolidated revenue from operations grew about 32 per cent to Rs 961.34 crore during the first quarter of the current fiscal from Rs 729 crore a year ago, according to an exchange filing.

"We are well on track to achieve our revenue growth guidance for 2023-24. We have seen robust growth in CPaaS (Communications platform as a service) and Firewall business with the signing of large contracts," Route Mobile Managing Director and Group Chief Executive Officer Rajdipkumar Gupta said.

Route Mobile has set a target to become a billion-dollar revenue company over the next 3-4 years, Gupta said, adding that the company will also continue to gain significant market share in the country.