India's Route Mobile drops to 11-month low as quarterly profit slips

Route Mobile

07/05/2024 05:16

** Shares of Route Mobile  ROUT.NS  fall 4.6% to 1464.85
rupees, their lowest levels in 11 months
    ** The cloud communications platform service provider
reports a 13.3% fall in March-qtr consol net profit to 881 mln
rupees ($10.6 mln)
    ** ROUT stock had lost 4.9% in April to post its worst
monthly loss since July 2023
    ** Five analysts covering the stock on average have a "buy"
rating; median PT is 1,819.50 rupees - LSEG data
    ** Stock down ~8% YTD, had gained 31.5% in 2023 for best
yearly gains since 2021

    ($1 = 83.4790 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))