Route Mobile April-June Profit Fall On Quarter, Lag Estimates; Revenue Down 11%

Route Mobile Ltd.'s consolidated net profit for the June quarter fell nearly 6% sequentially to ₹532.10 million, missing Street expectations of ₹764 million. Revenue from operations dropped almost 11% on quarter to ₹10.51 billion.

On a year-on-year basis, profit fell 32% and revenue declined nearly 5%. Other income was down 9.4% to ₹109.70 million from the previous quarter’s ₹121.10 million.

Total expenditure, including finance costs, fell 9.1% on quarter and around 3% on year to ₹9.85 billion. Finance cost dropped more than 28% sequentially to ₹58.2 million. Tax outgo stood at ₹177.9 million, down nearly 5% on quarter.

The company declared an interim dividend of ₹3 per share, with July 23 as the record date.