Route Mobile share price tanks nearly 5% post Q4 results. Should you buy, sell or hold?
₹95 crore. In the same time last year, the business recorded a net profit of ₹104.05 crore, according a BSE filing. Route Mobile share price today opened at ₹1,486.55 apiece on BSE, the stock touched an intraday low of ₹1,460.55 and an intraday high of ₹1,500.40.
According to Ruchit Jain of 5paisa, the stock has been consolidating in a range for the last couple months and has now breached the support end. Thus, we could see some underperformance in the near term. The next support for the stock is placed around the ₹1,400 mark.
Comparing the March 2023 quarter's revenue from operations to the previous one, which was ₹1,017.03 crore, there was almost no change. After reaching ₹333.11 crore in FY23, net profit climbed by around 17% to ₹388.84 crore in FY24. Revenue on an annual basis grew from ₹3,569.23 crore to ₹4,023.29 crore.
Also Read: Marico share price jumps over 8% after Q4 results; Should you buy, sell or hold the stock? The second and third quarters saw Route Mobile's greatest quarterly sales, while the first half saw strong growth, according to Group CEO and Managing Director Rajdip Gupta. They are still gaining some significant clients and providing innovative solutions to a variety of sectors. Route Mobile's performance in Q4FY24 was in line with Brokerage Nuvama Institutional Equities' assessment.
Migration of ILD volumes to OTT platforms is the cause of the muted increase observed. The 12.5% EBITDA margin exceeded their projected 12.1%. Since volume migrated from SMS to OTT platform in FY24, Route had difficulties in the ILD business.
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