Route Mobile Q2 results: Profit more than doubles to Rs 33 crore

NEW DELHI: Cloud communications platform service provider Route Mobile has more than doubled its consolidated net profit at Rs 32.7 crore for the September 2020 quarter. The company had posted a net profit of Rs 13 crore for the same period last year, Route Mobile said in a regulatory filing.

The company saw its revenue from operations grow about 78 per cent to Rs 349.3 crore in the quarter under review from Rs 196.6 crore in the year-ago period, it added.

Earnings per share (EPS) for the quarter ended September 30, 2020 stood at Rs 6.46.

In sequential terms, the net profit was higher by 21.5 per cent from Rs 26.9 crore, while revenue from operations was higher by 12.8 per cent from Rs 309.6 crore in June 2020 quarter.

"Q2 FY21 has been another quarter of strong performance, backed by better operating leverage, despite the trying circumstances," Route Mobile Managing Director and Group CEO Rajdip Gupta said.

He added that the pandemic has accelerated Communications Platform as a Service (CPaaS) adoption amongst enterprises, and Route Mobile continues to enable its customers in their digital communication journey.

Citing Gartner estimates, he said by 2023, 90 per cent of global enterprises will leverage API enabled CPaaS offerings to enhance their digital competitiveness, up from 20 per cent in 2020.

"We are optimally positioned to be at the forefront and drive this transformation," he added.