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Route Mobileās share price drops following a decline in Q4 profits, with experts suggesting potential underperformance in the near term. The stockās next support is around the ā¹1,400 mark.
Route Mobileās share price opened at ā¹1,486.55 apiece on BSE today. During the day, the stock hit an intraday low of ā¹1,460.55 and an intraday high of ā¹1,500.40. The companyās Q4 profits fell by 9% to ā¹95 crore, compared to ā¹104.05 crore during the same period last year. The stock has been consolidating in a range for the last couple of months and has now breached the support end, according to Ruchit Jain of 5paisa. As a result, the stock may underperform in the near term. The next support for the stock is around the ā¹1,400 mark.
Comparing the revenue from operations for the March 2023 quarter to the previous one, which was ā¹1,017.03 crore, there was almost no change. However, net profit climbed by around 17% to ā¹388.84 crore in FY24, up from ā¹333.11 crore in FY23. On an annual basis, revenue grew from ā¹3,569.23 crore to ā¹4,023.29 crore.
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![Router Protocol [OLD]](https://static.coinstats.app/coins/routetHA.png)
