Heavy buying witnessed: shares of this company surge more than 10 per cent today!

The net profitability of the firm shot up more than 84 per cent from the corresponding quarter last year to Rs 85.36 crore

On Tuesday, shares of Route Mobile surged more than 13 per cent make an intraday high of Rs 1295.10. The scrip witnessed a massive spurt in volume by more than 30.27 times.  

On January 23, 2023, the company released its Q3FY23 results wherein the revenue from operations jumped more than 75 per cent from Q2FY23 to Rs 985.72 crore. The company’s EBITDA levels rose by more than 66 per cent from last year same quarter to Rs 128.3 crore. The net profitability of the firm shot up more than 84 per cent from the corresponding quarter last year to Rs 85.36 crore.  

Route Mobile is a cloud communication platform provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). Their product portfolio includes smart solutions in messaging, voice, email and SMS filtering, analytics & monetization. They offer their cloud-communication services to clients in various industries such as banking and financial services, aviation, retail, e-commerce, logistics, healthcare, hospitality, media and entertainment, pharmaceuticals and telecom.  

The stock has shown weak performance in the last 1 year as it has declined more than 21 per cent. Keep a close eye in this trending stock!