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Route Mobile’s share price drops following a decline in Q4 profits, with experts suggesting potential underperformance in the near term. The stock’s next support is around the ₹1,400 mark.
Route Mobile’s share price opened at ₹1,486.55 apiece on BSE today. During the day, the stock hit an intraday low of ₹1,460.55 and an intraday high of ₹1,500.40. The company’s Q4 profits fell by 9% to ₹95 crore, compared to ₹104.05 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 ₹1,400 mark.
Comparing the revenue from operations for the March 2023 quarter to the previous one, which was ₹1,017.03 crore, there was almost no change. However, net profit climbed by around 17% to ₹388.84 crore in FY24, up from ₹333.11 crore in FY23. On an annual basis, revenue grew from ₹3,569.23 crore to ₹4,023.29 crore.
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![Router Protocol [OLD]](https://static.coinstats.app/coins/routetHA.png)
