Route Mobile Ltd. announces Q2FY21 Results

Route Mobile Limited (“Route Mobile”), a leading cloud communication platform service provider to enterprises, over-the-top (“OTT”) players, and mobile network operators, has announced its financial results for the second quarter ended on 30^th September, 2020.

• Highlights for Q2FY21 consolidated financials
• Total revenue stands at Rs.354.5 crore as against Rs.201.4 crore in Q2FY20
• Revenue from Operations stood at Rs.349.3 crore against Rs.196.6 crore in Q2FY20
• Profit before tax stands at Rs.39.4 crore against Rs.15.7 crore in Q2Fy20
• Profit after tax stands at Rs.32.7 crore against Rs.13.0 crore in Q2 FY20 Earnings per share (EPS) for the quarter ended September 30, 2020 stood at Rs.6.46 
  
  
• Q2FY21 (Consolidated)

   

  Revenues from operations for the second quarter ended September 30, 2020 (Q2FY21) stood at Rs. 349.3 crore as compared to Rs. 309.6  crore in Q1FY21. Likewise, the Total Income stood at Rs.354.5 crore in Q2FY21 as against Rs. 312.3 crore in Q1FY21

  Profit Before Tax (PBT) stood at Rs. 39.4 crore for Q2FY21 as compared to Rs 33.3 crore in Q1FY21.The Company’s PBT margin stood at 11.1% in Q2 FY21

  Profit After Tax (PAT) reported stood Rs. 32.7 crore for Q2FY21 as against Rs. 26.9 crore in Q1FY21.The Company’s PAT margin stood at 9.2% in Q2 FY21

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

  Commenting on the results, Mr. Rajdip Gupta, Managing Director & Group Chief Executive Officer, Route Mobile Limited, said, “Q2 FY21 has been another quarter of strong performance, backed by better operating leverage, despite the trying circumstances. The pandemic has accelerated CPaaS adoption amongst enterprises, and Route Mobile continues to enable our customers in their digital communication journey. As per Gartner estimates, by 2023, 90% of Global enterprises will leverage API enabled CPaaS offerings to enhance their digital competitiveness, up from 20% in 2020.  We are optimally positioned to be at the forefront and drive this transformation.”

   

Route Mobile gets SEBI nod for Rs 600 cr IPO

Route Mobile gets SEBI nod for Rs 600 cr IPO

Omni Channel Cloud Communications Service Provider, RouteMobile, has received market regulator Securities and Exchange Board of India’s nod to raise an estimated Rs 600 crore through the Initial Public Offering (IPO) route. The company had initially filed for its IPO in January 2018, it refiled its document on 3 October 2019.

The Company was issued final observations by capital market regulator, SEBI on 24 December 2019, according to the information published on its website

According to the Draft Red Herring Prospectus (DRHP) filed by the company, the offer comprises of a fresh issue worth Rs 240 crore and an Offer For Sale (OFS) of Rs 360 cr by the promoters, Y Sandipkumar Gupta and Rajdipkumar Gupta. Additionally, a pre ipo placement of upto aggregating upto Rs 100 crores may be considered in consultation with the BRLMs which will reduce the size of the offer, retrospectively

ICICI Securities Limited, Axis Capital Ltd, Edelweiss Financial Services Ltd, IDBI Capital Markets & Securities Limited are the BRLMs to the issue.

The company will use Rs. 36.9 crore towards repayment and advance payment of certain borrowings, Rs 83 crore for acquisitions and other strategic initiatives besides the purchase of an office premise.

The company has serviced more than 27500 clients across sectors including BFSI, Aviation, Retail, E-Commerce, Logistics, Healthcare, Hospitality, Media and Entertainment, Pharmaceuticals and Telecom. It’s  total revenue increased at a CAGR of 37.87 per cent from Rs 4,575 million in FY2017 to Rs 8,446.68 million in FY 2019.

Route Mobile hasn’t any capital infusion in the company since 2007, all the growth has been funded through internal accruals and the strategy going forward would be to augment its cloud services across multiple channels of communication, cross sell and upsell multiple solutions to enterprises to become a one stop solution and adopt a bi modal go to market strategy via its developer community programme.