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Category: Financials

  • JSW Energy reports resilient Q2 FY25 results amid economic challenges

    JSW Energy reports resilient Q2 FY25 results amid economic challenges

    Mumbai: In a year marked by economic challenges and shifting global energy priorities, JSW Energy continues its steady performance, navigating volatility with a balanced mix of innovation, sustainability, and expansion. The company’s Q2 FY25 results underscore a nuanced position: while overall revenue reflects a modest decline, strategic initiatives in renewable energy and infrastructure lay the groundwork for long-term growth.

    In Q2 FY25, JSW Energy’s revenue from operations stood at Rs 3,237.66 crore, a slight decrease from the Rs 3,259.42 crore recorded during the same quarter last year. Although consolidated EBITDA dipped by 5 per cent YoY to Rs 1,907 crore, underlying EBITDA grew by 4 per cent, driven by increased energy generation across its thermal, wind, and hydro assets. Net Profit After Tax (PAT) grew to Rs 853 crore, marking a small but steady YoY increase, underpinned by an uptick in operational efficiency and an optimised debt position, with a net debt-to-equity ratio of 0.9x and net debt-to-EBITDA (excluding CWIP) at 2.2x.

    The company’s energy generation surged by 14 per cent YoY to 9.8 billion units (BUs), a growth attributed to the commissioning of 204 MW in wind projects and enhanced generation from both its thermal and hydroelectric assets. Total renewable energy (RE) generation rose by 14 per cent, hitting 5 BUs. Notably, wind generation surged by 37 per cent YoY, while hydro saw a 5 per cent increase. Thermal energy, despite broader industry challenges, remained resilient, contributing an impressive 4.8 BUs—an increase of 14 per cent YoY.

    JSW Energy’s commitment to environmental and social governance (ESG) is also noteworthy. The company received an ‘A’ rating from MSCI for its ESG practices and achieved a leadership score of “A-” for climate-related transparency from CDP. In addition, the company secured an all-time high score of 77/100 in S&P’s Global DJSI-ESG rating, underscoring its dedication to ethical and sustainable practices within the energy sector.

    As JSW Energy transitions toward a low-carbon energy future, its strategic focus remains steadfast on renewable energy expansion. The company’s cumulative RE generation capacity now stands at 19.2 GW, supported by significant new PPA signings for RE projects totaling 3.8 GW in Q2 FY25. Key projects include the nearly commissioned 454 MW SECI X Wind Project and new infrastructure projects in green hydrogen and battery energy storage. By March 2025, a 3,800 TPA hydrogen plant is anticipated to be operational, supplementing JSW’s green hydrogen agreements with JSW Steel, while a 1.0 GWh BESS project is slated for completion by June 2025.

    JSW Energy’s Q2 FY25 results present a complex yet promising outlook. Amid immediate financial challenges, the company’s strategic alignment with India’s renewable energy goals and commitment to ESG underscore a forward-thinking approach. With substantial growth in renewable capacity and promising new ventures, JSW Energy is positioning itself not only as a leader in India’s energy transition but as a globally responsible energy player.

  • Bharat Electronics achieves 39 per cent profit growth in H1 FY25

    Bharat Electronics achieves 39 per cent profit growth in H1 FY25

    Mumbai: Bharat Electronics Limited (BEL), India’s Navratna defense PSU, continues its growth trajectory, reporting robust results for the first half of FY25. A strategic focus on defense innovations has pushed BEL’s performance to new heights, with a substantial increase in profit and a healthy order book. BEL’s success mirrors the ongoing demand for advanced defense technologies in India’s evolving security landscape.

    In the first half of FY25, BEL reported a turnover of Rs 8,530.43 crore, a 15.83 per cent increase over the Rs 7,364.82 crore recorded during the same period last year. This surge in revenue is credited to the rise in domestic defense spending and BEL’s execution of high-value contracts. A deeper dive into the second quarter reveals that BEL achieved a turnover of Rs  4,425.29 crore, up from Rs 3,918.13 crore in the previous year, reflecting a growth rate of over 12.9 per cent.

    Profit-wise, BEL saw a substantial increase, with its Profit Before Tax (PBT) for the first half of FY25 reaching Rs 2,488.22 crore, marking a 40.05 per cent growth from the Rs 1,776.69 crore reported last year. This robust growth in profitability underscores BEL’s strong market position and operational efficiency. The second quarter alone recorded a PBT of Rs 1,450.88 crore, a 35.3 per cent jump from the Rs 1,072.94 crore seen in Q2 FY24.

    Profit After Tax (PAT) similarly demonstrated impressive gains, with BEL posting Rs 1,867.41 crore for the first half of FY25, up by 39.03 per cent compared to Rs 1,343.18 crore in the corresponding period of the previous year. In Q2 FY25, PAT stood at Rs 1,091.27 crore, a notable increase from Rs 812.34 crore in the same quarter last year.

    Adding to this robust performance, BEL’s order book as of 1 October 2024, was valued at Rs 74,595 crore, affirming the company’s strong market position and promising future cash flows. BEL’s strategic push in research and development and its growing portfolio of defense technology solutions are key drivers of this solid order pipeline.

    With defense spending set to rise, BEL’s growth trajectory and financial resilience position it as a vital contributor to India’s self-reliant defense sector. The company’s performance in H1 FY25 exemplifies how strategic investments in technology and strong execution can yield significant returns.

  • MBL reports resilient Q2FY25, revenue growth despite margins pressure

    MBL reports resilient Q2FY25, revenue growth despite margins pressure

    Mumbai: You are crawling through the typical Mumbai’s infamous Saki Naka traffic, inching your way home after a long day. The only companion during this gridlock is the trusty voice of Radio City, filling the airwaves with your favourite tunes, celebrity gossip, and city updates. But behind the scenes, even as Music Broadcast Limited (MBL) keeps listeners entertained, the company grapples with financial challenges.

    In its second quarter of FY25, MBL operating Radio City, recorded an increase in revenue to Rs 5,482.87 lakh, a noticeable 4.54 per cent improvement compared to the corresponding period last year. As India’s radio landscape evolves with shifting audience preferences and advertising trends, MBL’s ability to maintain revenue growth reflects its adaptability and market positioning. Yet, despite this, the company faced pressures that have impacted its profitability.

    Total income for the quarter stood at Rs 6,131.77 lakh, a rise from Rs 5,815.48 lakh in Q2FY24, bolstered by a combination of operational revenue and other income sources. The operational strength is evident in the half-year results as well, with total income reaching Rs 12,754.13 lakh, marking a 9.15 per cent year-on-year growth. This growth trajectory signals a recovery trend in India’s media and entertainment sectors post-pandemic.

    However, profitability remains an issue. The company registered a net loss of Rs 199.24 lakh this quarter, a swing from the Rs 36.62 lakh profit posted in Q2FY24. This loss has expanded the net profit margin into negative territory at -3.63 per cent, down from 0.70 per cent last year. The adverse movement in margins can be attributed to rising expenses across employee benefits, amortisation, and other operational costs.

    Expenses grew at a faster pace than income, with total expenses reaching Rs 6,329.01 lakh for Q2FY25, compared to Rs 5,682.03 lakh for the same period last year. Employee benefits rose sharply to Rs 1,999.30 lakh, a 15.88 per cent increase over Q2FY24. This reflects Radio City’s efforts to retain talent and maintain operational efficiency amid growing competition from digital and online platforms. Meanwhile, depreciation and amortisation expenses surged 37.34 per cent to Rs 862.80 lakh.

    The sharp rise in these costs, combined with the firm’s legal and financial obligations, is likely to have weighed down overall profitability. Additionally, finance costs climbed to Rs 286.18 lakh, up from Rs 247.44 lakh in the same quarter last year.

    Despite the profitability challenges, the company remains operationally resilient. It reported an operating margin of 17.36 per cent for the quarter, and while this is a decline from 23.05 per cent in Q2FY24, it still reflects sound cost management in the face of rising expenses. MBL has also been involved in an ongoing legal case with Phonographic Performance Limited (PPL), over licensing fees, which continues to pose financial uncertainties. The outcome of this litigation could have further implications on the company’s future cash flows.

    The company has maintained a strong debt-to-equity ratio of 0.23, reflecting a conservative financial strategy. Moreover, MBL’s net worth increased to Rs 53,220.13 lakh from Rs 52,601.41 lakh in the previous year, demonstrating long-term financial stability, even as short-term challenges mount.

    The radio industry, long considered a staple of India’s media consumption, is undergoing significant transformation with competition from digital streaming services and podcasts. MBL’s ability to retain its market share and attract advertisers will be key to its recovery. Despite near-term setbacks, MBL’s revenue growth highlights the continued relevance of radio as a medium in India’s diverse media landscape.

  • UltraTech Cement Q2 performance sees sluggish growth amidst rising costs

    UltraTech Cement Q2 performance sees sluggish growth amidst rising costs

    Mumbai: In a landscape where construction and infrastructure development are vital to economic growth, UltraTech Cement Limited finds itself navigating turbulent waters. On 21 October 2024, the company disclosed its unaudited financial results for the quarter and half-year ending 30 September 2024. These results tell a story of declining revenues and profits, prompting a closer examination of the underlying factors affecting this leading player in the cement industry.

    The company’s revenue saw a marginal increase of 3.7 per cent year-on-year, reaching Rs 15,634.73 crore. However, despite this rise in top-line growth, profitability was under pressure due to escalating costs, causing a 35.5 per cent decline in net profit compared to the same quarter last year.

    The quarter was marked by an environment of rising costs, notably in power and fuel expenses, which accounted for Rs 3,837.69 crore, a 12.5 per cent decline from the previous quarter but still high compared to historical levels. Additionally, freight and forwarding expenses surged by nearly 2 per cent year-on-year to Rs 3,583.51 crore, further eroding the company’s operating margins. Employee costs also saw a significant rise, reaching Rs 913.86 crore, a 12.5 per cent increase year-on-year.

    Despite these challenges, UltraTech Cement managed to maintain a steady volume growth and revenue stability, driven by ongoing infrastructure developments and a resurgence in the real estate sector. However, the company’s efforts to manage costs through operational efficiencies and alternative fuel strategies fell short of countering the broader cost inflation impacts.

    UltraTech Cement, managing director, K.C. Jhanwar commented, “While we have seen revenue growth supported by increased sales volume and price improvements, the cost inflation in key inputs such as power and logistics remains a significant challenge. We are focusing on optimising our fuel mix and enhancing our efficiency to mitigate these impacts.”

    The company’s net profit stood at Rs 825.18 crore for the quarter, down from Rs 1,280.38 crore in the same period last year, indicating a tightening profit margin from 8 per cent to 5 per cent. On the brighter side, UltraTech’s ongoing expansion plans remain on track, with a commitment to increasing capacity by 22.6 million tonnes per annum by FY26, aiming to cement its leadership in the Indian market.

    Analysts point out that while revenue growth is encouraging, the impact of elevated costs on UltraTech’s profitability raises concerns about its near-term performance. As cement demand is expected to continue its upward trajectory, the company’s ability to manage cost pressures will be critical in determining future growth.

  • Jio Platforms reports 23 per cent surge in Q2 profit amid tariff hikes

    Jio Platforms reports 23 per cent surge in Q2 profit amid tariff hikes

    Mumbai: Jio Platforms Limited (JPL) has announced a robust 23.4 per cent year-on-year increase in net profit for the second quarter of FY25, reaching Rs 6,539 crore. This growth is primarily attributed to recent tariff hikes and a boost in digital service demand.

    Jio solidified its dominance in 5G, transitioning 148 million users to its ‘True5G’ network, which now handles 34 per cent of the company’s wireless data traffic. The telecom giant’s subscriber base expanded to 479 million, showing a 4.2 per cent increase from the previous year. Average revenue per user (ARPU) climbed to Rs 195.1, up 7.4 per cent from the last quarter. “The full impact of the tariff hike will flow through in the next two to three quarters,” the company stated, indicating that the financial benefits of its pricing strategy are still unfolding.

    Revenue from operations surged by 18 per cent year-on-year to Rs 31,709 crore, driven by both the tariff adjustments and the expansion of home and digital services. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached a record Rs 15,931 crore, up 17.8 per cent from last year.

    Engagement metrics remained strong with per capita usage climbing to 31GB per month increasing total data traffic by 24 per cent year-on-year and voice traffic up by 6.4 per cent uptick to 1.42 trillion minutes.

    Jio’s rapid growth in fixed wireless services was highlighted by over 2.8 million JioAirFiber connections established since its launch, with the company aiming to connect 100 million homes across India at an accelerated pace. In alignment with its ambition to embed artificial intelligence across operations, Jio introduced ‘JioBrain’—a comprehensive AI suite offering real-time data-driven insights and automation.

    Reliance Jio Infocomm chairman, Akash M Ambani commented on the company’s strategic direction: “Right from inception, Jio has focused on deep tech innovation to create customer and shareholder value. The ongoing transformation created by Jio True5G and JioAirFiber in India’s digital landscape is a testament to this approach.”

     

  • Reliance Retail Q2 net profit climbs 1.3 per cent to Rs 2,836 crore

    Reliance Retail Q2 net profit climbs 1.3 per cent to Rs 2,836 crore

    Mumbai: Reliance Retail Ventures Ltd has reported a modest increase in net profit for the second quarter of FY25, rising 1.3 per cent year-on-year to Rs 2,836 crore. However, the company faced a significant revenue decline of 3.5 per cent, with operating revenue falling to Rs 66,502 crore compared to Rs 68,937 crore in the same period last year.

    The results reflect ongoing challenges in the retail sector, particularly due to subdued consumer demand in the fashion and lifestyle segments. Despite these hurdles, Reliance Retail’s EBITDA rose slightly to Rs 5,850 crore from Rs 5,830 crore in Q2 of the previous year, with margins improving by 30 basis points.

    In a strategic move to bolster its market presence, Reliance Retail expanded aggressively by adding 464 new stores during the quarter, bringing its total to 18,946 across an operational area of 79.4 million square feet. Reliance Retail executive director, Isha Ambani emphasised the company’s commitment to innovation and customer engagement: “Reliance Retail continues to make investments in technology and infrastructure to build a strong foundation for future growth and maintain market leadership.”

    During the quarter, Reliance Retail strengthened its portfolio by forging exclusive partnerships with Delta Galil to expand in lingerie and activewear, while launching ASOS in India. AJIO expanded its product catalogue by over 25 percent year-over-year, adding 1.8 million customers and introducing brands like H&M and Timberland. The youth-focused Yousta format surpassed 50 stores within a year, and Ajio Luxe saw a 28 percent increase in options, with its brand count exceeding 725.

    JioMart’s growth extended across categories, with non-grocery segments, especially consumer electronics, driving a twofold increase in average order value. The jewellery segment launched nine new collections, contributing to higher average bill values, while the grocery business maintained steady growth, led by Smart Bazaar and Smart stores. The company also scaled up quick commerce through its store network, expanded the services business to 150 cities, and launched its first Armani Café as part of the premium brands initiative.

    The merchant base for the company’s private label doubled, and the seller base grew by 46 percent, further expanding the product catalogue.

    Foot traffic across all store formats surged by 14.2 per cent year-on-year, reaching over 297 million visits. The digital commerce segment also performed well, contributing 17 per cent of total revenue as Reliance Retail adapts to evolving consumer preferences.

    Chairman Mukesh D. Ambani remarked on the company’s strategic direction: “The unique omni-channel retail model enables the business to service a wide range of requirements of a vast, heterogenous customer base.” 

  • Sun TV reports Rs 1,276.11 crores revenue for Q1 FY24

    Sun TV reports Rs 1,276.11 crores revenue for Q1 FY24

    Mumbai: Sun TV Network Ltd, a television broadcaster in India that operates satellite television channels across seven languages—Tamil, Telugu, Kannada, Malayalam, Bangla, Marathi, and Hindi, has released its earnings report for the quarter and financial year ended 30 June 2024.

    For the quarter ended 30 June 2024, the revenues stood at Rs 1,276.11 crores compared to Rs 1,317.78 crores for the corresponding quarter ended 30 June 2023. Advertisement revenues for the quarter were Rs 323.77 crores, compared to Rs 339.10 crores for the same quarter in 2023. Domestic subscription for the quarter was Rs.425.79 crores, compared to Rs 435.34 crores for the corresponding quarter in 2023.

    The EBITDA for the quarter ended 30 June 2024 was Rs.706.36 crores, down from Rs.786.46 crores for the same quarter in 2023. Profit after taxes for the current quarter stood at Rs 546.94 crores, compared to Rs 582.80 crores in the corresponding quarter of 2023.

    At the board meeting held today, the board of directors declared an interim dividend of Rs 5 per share (100 per cent) on a face value of Rs 5 per share.

    Sun TV also airs FM radio stations across India and owns the SunRisers Hyderabad cricket franchise of the Indian Premier League, SunRisers Eastern Cape of Cricket South Africa’s T20 League, and the digital OTT platform Sun NXT.

  • NDTV reports Q4 earning with 59 per cent revenue growth Y-O-Y

    NDTV reports Q4 earning with 59 per cent revenue growth Y-O-Y

    Mumbai: NDTV Group announces its financial performance for Q4, 2023-2024, marked by a 59 per cent revenue growth compared to the same period last year.

    NDTV Convergence, the company’s digital arm also witnessed a significant 39 per cent increase in global digital traffic in March 2024 over April 2023 on its platforms. The NDTV Group’s ability to adapt to evolving consumer preferences and market dynamics has been instrumental in driving this impressive growth.

    During the financial year, NDTV expanded its presence across consumer segments with launch of NDTV MP-CG, NDTV Rajasthan, and NDTV Profit. Additionally, NDTV Marathi is being launched on 1 May. This strategic expansion drive from a two channel setup to a six channel setup has meant substantial investments in next-generation infrastructure. A cutting-edge broadcast facility in BKC, Mumbai is up and running. Another state-of-art integrated facility will be operational in NCR, Delhi in the coming months. While these investments strengthen future growth objectives, they have had an impact on short-term financial performance. NDTV remains committed to creating long-term shareholder value by leveraging its premium brand value to launch new products, expand audience and drive efficiency by investments in technology.

    Results for Q4 FY ‘24 & Full Year FY ’24:

    a. Standalone results: Q4 Loss (PAT) is at Rs 6.7 crores in CY from profit of Rs. 3.3 crores (after exceptional items) LY. Full year loss (PAT) is at Rs 12.3 crores in CY from profit of Rs. 28.6 crores LY.

    b. Consolidated Results:

    . Q4 Loss (PAT) is at Rs 8.7 crores in CY from loss of Rs 1.1crores LY. Full year loss (PAT) is at Rs 21.4 crores in CY from profit of Rs. 52.9 crores LY.

    . Q4 revenue is at Rs 106.5 crores in CY versus Rs 67.0 crores LY.

    The year was a remarkable one for NDTV as the most trusted and credible news brand in the country. Reuters Institute ranked NDTV.com as the most popular news website in India.

    NDTV continues to be the preferred news brand to work at. Attrition was down by 58 per cent from the previous year. It also added high-profile anchors and other top industry talent to its roster.

    As the new financial year commences, NDTV continues its expansion momentum with the upcoming launch of its next regional news channel, NDTV Marathi and reimagining its international offering under, NDTV World, featuring original shows with an Indian perspective catering to a global audience and the Indian diaspora.

  • Parag Milk Foods: Q3FY24 revenue Up 8.8 per cent, PAT surges 268.8 per cent YoY

    Parag Milk Foods: Q3FY24 revenue Up 8.8 per cent, PAT surges 268.8 per cent YoY

    Mumbai: Parag Milk Foods Ltd (PMFL), a leading manufacturer and marketer of dairy-based branded products in India announced its unaudited financial result for the quarter and half year ended 31 December 2023.

    Key Highlights Consolidated Q3 FY24:

    •    Revenue stood at Rs  8,008.4 million; a growth of 8.8  per cent YoY
    •    Gross profit stood at Rs 2,107.5 million; with a Gross profit margin of 26.3  per cent
    •    EBITDA stood at Rs 686.5 million; with an EBITDA margin of 8.6 per cent
    •    Profit After Tax stood at Rs 341.6 million; a growth of 268.8 per cent YoY.

    Key Highlights – Consolidated 9MFY24

    •    Revenue stood at Rs  23,485.9 million; a growth of 12.3 per cent YoY
    •    Gross profit stood at 5,545.4 million; with a Gross profit margin of 23.6  per cent
    •    EBITDA stood at Rs 1782.1million; with an EBITDA margin of 7.6 per cent
    •    Profit After Tax stood at Rs 807.7 million; a growth of 161.4 per cent YoY.

    For Q3FY24, the consolidated revenue from operations grew by 8.8 per cent on a yoy basis, at INR 8008.4 million. The growth came on the back of healthy growth in the ghee and protein category. The softness in the milk prices coupled with the improving product mix resulted in a sharp expansion in the gross profit margin for the company.  The gross profit margin expanded by 520 bps on a yoy basis from 21.1 per cent in Q3FY23 to 26.5 per cent in Q3FY24. The EBITDA grew by 80.5 per cent yoy; with an EBITDA margin of 8.6 per cent for Q3FY24 as against 5.2 per cent in Q3FY23.

    For 9MFY24, the consolidated revenue from operations grew by 12.3 per cent on a yoy basis at INR 23,485.9 million. The gross profit margin expanded by 450 basis points yoy at 23.6 per cent in 9MFY24 as against 19.1 per cent in 9MFY23.  Driven by operational excellence, the EBITDA grew by 52.2 per cent yoy, with an EBITDA margin of 7.6 per cent for 9MFY24 as against an EBITDA margin of 5.6 per cent in 9MFY23.

    PMFL is consistently investing towards enhancing its brand strength by employing an innovative blend of marketing activities.  The company has undertaken a series of efforts towards expanding the overall distribution reach, wherein it aims to triple its reach to more than 15 lac retail outlets.

    Commenting on the results Mr. Devendra Shah, Chairman said, “It gives me immense pleasure to state that our consolidated revenues for the quarter has grown by 8.8 per cent yoy; whilst our margins and profitability have witnessed strong improvement. The Gross and EBITDA margins have expanded by 520 basis points and 340 basis points to reach 26.3 per cent and 8.6 per cent respectively.

    Over the last two quarters, the milk procurement prices have been benign and we expect it to remain stable ahead. Improving consumer sentiments coupled with our continuous focus on the value-added products and the health and nutrition segment is expected to drive healthy performance in future.

    We are in the midst of a transformation journey aimed at driving efficiency across the value chain. With an ensuing expansion and acceleration of the distribution footprint, we are confident to show robust growth in our revenues and profitability”

    Key developments in Q3FY24

    Brand building initiatives- The company has strengthened its brand equity reach by adopting unique content-led impact marketing and branding campaigns. Continuing the momentum on the marketing innovation; the company continued its effective collaboration with Kaun Banega Crorepati (KBC) for the second time. The association has enabled the company to increase its consumer connection and strengthen brand equity.

    Procurement:  For the quarter, the average milk procurement stood at 17 lac litres per day; aided by a stable global market coupled with a good flush season; the milk prices have stabilized. For the quarter the average milk price stood at Rs 32.2 per litre.

    Distribution reach: The overall business growth was largely broad-based with all channels posting good growth. In line with the targeted initiative of expanding the retail reach and presence; PMFL continues to invest in the sales and distribution (S&D) infrastructure

    9MFY24 business performance

    Core categories:  The core categories of Ghee and Cheese have seen continuous traction throughout the period and have posted a growth of 11.1 per cent  Y-o-Y.

    New age business- Brand Avvatar: The Direct to Consumer (D2C) brand Avvatar continued its momentum and recorded robust 62.0 per cent growth YoY, led by 45 per cent volume growth YoY. The overall protein portfolio has continued to record market share gains.  

    Premium Dairy Business- Pride of Cows (PoC):  In line with the company’s premiumization agenda- the brand Pride of Cows continues to witness healthy traction. The brand is expanding its product portfolio as well as distribution footprint.   During the quarter, the brand was extended into the Vadodara market, which makes it a seven-city brand. Pride of Cows is posting profitable and Sustainable growth. 

  • Route Mobile Ltd Q3 FY24 results: Revenue from operations stood at Rs 1,024.3

    Route Mobile Ltd Q3 FY24 results: Revenue from operations stood at Rs 1,024.3

    Mumbai: Route Mobile Limited (“Route Mobile”) cloud communication platform service provider to enterprises, over-the-top (“OTT”) players, and mobile network operators has announced its financial results for the third quarter ended on 31 December 2023.

    Highlights for Q3FY24 (YoY) Consolidated Financials –

    Revenue from operations stood at Rs 1,024.3 crore as against Rs 985.7 crore in Q3FY23

    Profit Before Exceptional Items and Tax stands at Rs 116.6 crore as against Rs 103.1 crore in Q3FY23

    Profit after Tax (PAT) reported was at Rs 113.6 crore as against Rs 85.4 crore in Q3FY23.  PAT in Q3 FY24 was boosted by exceptional items amounting to Rs 15 crore, representing the fair value gain, as on 31 December 2023, of the contingent consideration payable towards the acquisition of 100 per cent equity stake in M.R Messaging FZE

    EPS stands at Rs 16.89 (basic) and Rs. 16.66 (diluted)

    Q3 FY24 vs. Q2 FY24 (Consolidated)

    Revenue from operations for the quarter ended 31 December 2023, stood at Rs 1,024.3 crore as compared to Rs 1,014.6 crore in Q2 FY24 results.Profit before Exceptional Items and Tax (PBT) stood at Rs 116.6 crore for Q3 FY24 as compared to Rs 103.8 crore in Q2 FY24. The company’s PBT margin stood at 11.4 per cent

    Profit after Tax (PAT) reported at Rs 113.6 crore for Q3 FY24 as against Rs 88.4 crore in Q2 FY24. PAT margin stood at 11.1 per cent. PAT in Q3 FY24 was boosted by exceptional Items amounting to Rs 15.0 crore, representing the fair value gain, as on 31 December, 2023, of the contingent consideration payable towards the acquisition of 100 per cent equity stake in M.R Messaging FZE

    Commenting on the results, Route Mobile Limited, managing director & group chief executive officer Rajdipkumar Gupta said, “ I am delighted to share that we have registered our best quarterly revenues during the quarter gone by. It was a slightly muted performance, considering Q3 is historically our best quarter. This is due to the industry headwinds and delays in a couple of our large contracts going live. We have recently onboarded some large customers in Asia and Europe and they should gradually ramp up”. He also said, “We are encouraged by the growing adoption of channels like WhatsApp and RCS, some of our latest contract wins are equivalent to the monthly revenues of these product lines. The evolving messaging landscape is creating exciting opportunities for us to welcome numerous new clients to our omnichannel platform.”

    Talking about the Proximus deal, he added, “We have secured the most important US approval and are in striking distance of the deal closure. A couple of regulatory approvals from the Middle East are awaited anytime soon”.