ROUTE MOBILE SHARE PRICE FALLS NEARLY 5% AFTER Q4 RESULTS: WHAT YOU NEED TO KNOW
Route Mobile share price: The share price of Route Mobile fell almost 5% today (May 7) after the company reported a 9% decline in Q4 profits to ₹95 crore. During the same period last year, the company recorded a net profit of ₹104.05 crore. On the BSE, Route Mobile share price opened at ₹1,486.55 apiece and touched an intraday low of ₹1,460.55 and an intraday high of ₹1,500.40.
Read more: Marico share price jumps over 8% after Q4 results: Should you buy, sell or hold?
What Nuvama Institutional Equities said on Route Mobile Q4 results
Nuvama Institutional Equities said that Route Mobile's performance in Q4FY24 was in line its assessment as migration of ILD volumes to OTT platforms could be the reason behind the muted increase.
Read more: Tesla’s chilling layoff email sent by Elon Musk: ‘We will begin processing your separation’
The 12.5% EBITDA margin exceeded Nuvama Institutional Equities' projected 12.1%. Owing to volume migrated from SMS to OTT platform in FY24, Route Mobile faced difficulties in the ILD business, it said.
Read more: Hindalco target price raised as subsidiary Novelis beats Q4 estimates: Details
“We are not building in contribution from synergy given limited visibility on timelines. We are increasing FY25E/26E earnings by 10.2%/11.3% due to higher growth. Retain ‘BUY’ with a target price ₹2,020 (earlier ₹1,930), valuing the stock at 25x FY26E EPS," the brokerage said.
Read more news like this on HindustanTimes.com
2024-05-07T05:30:08Z dg43tfdfdgfd