On Friday, Shares of Route Mobile hit a new high of Rs 1,006 in intra-day trade when it rose as much as 4.5 per cent. The shares of the company have surged more than 26 per cent in the past four trading sessions.
Earlier this week, the cloud communications platform service provider had announced its result for September 2020 quarter. Its net consolidated profit for the quarter was doubled at Rs 32.7 crore, against a net profit of Rs 13 crore for the same period a year-ago, the company in a regulatory filing said.
The revenue from operations of the company grew 78 per cent to Rs 349.3 crore, as compared to Rs 196.6 crore in the year-ago period. While on a sequential basis, Route Mobile net profit during the September quarter increased 21.5 per cent to Rs 32.7 crore from Rs 26.9 crore in the quarter ended on 30 June, 2020. Revenue from operations increased 12.8 per cent form Rs 309.6 crore in Q1FY21.
The company has debuted on stock exchanges last month and on Day1, the shares have been doubled as compare to its issue price of Rs 350.