India's Route Mobile jumps most in 6-mths on profit surge

Route Mobile

24/01/2023 05:04

** Shares of Route Mobile  ROUT.NS  up as much as 8.3% at
1,237 rupees, their biggest intraday jump since July 29, 2022
    ** Cloud communication platform service provider reports
85.2% yoy surge in Dec-quarter consolidated net profit, with new
product sales increasing ~53%
    ** Net profit grew despite supply-side issues and current
recessionary headwinds, CEO and MD Rajdipkumar Gupta says
    ** Brokerages bullish on the stock, with 5 out of 6 rating
it a "buy" or above and 1 rating it a "hold", their median PT is
1,577.5 rupees -Refinitiv data
    ** About 1.2 million shares traded, 11x 30-day avg
    ** Stock down 31.8 % last year
 
 ($1 = 81.6680 Indian rupees)
 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))