Archive: May 22, 2023

Route Mobile Ltd. announces Q4 & FY22-23 Results

Mumbai, May 22nd, 2023: Route Mobile Limited (“Route Mobile”), a leading cloud communication platform service provider to enterprises, over-the-top (“OTT”) players and mobile network operators, has announced its financial rresults for the fourth quarter and full year ended on 31st March, 2023.

Highlights for Q4FY23 (YoY) Consolidated Financials

· Revenue from operations stood at Rs. 1,008.66 crore as against Rs. 626.07 crore in Q4FY22

· Profit Before Tax stands at Rs 120.36 crore as against Rs. 46.81 crore in Q4FY22

· Profit After Tax reported was at Rs. 104.05 crore as against Rs. 47.42 crore in Q4FY22

· EPS stands at Rs. 16.29 (basic and diluted)

FY23 Vs FY22 (Consolidated)

Revenue from operations for the full year ended March 31st, 2023 stood at Rs. 3,569.23 crore as against Rs 2,002.03 crore in FY21-22

Profit Before Tax (PBT) stood at Rs. 381.50 crore for FY22-23 as against Rs. 195.22 crore in FY21-22. The company’s PBT margin stood at 10.69% (on revenue)

Profit After Tax (PAT) reported stood at Rs. 333.11 crore for FY22-23 as against Rs. 170.08 crore in FY21- 22. PAT margin stood at 9.33% (on revenue)

Commenting on the results, Mr. Rajdipkumar Gupta, Managing Director & Group Chief Executive Officer, Route Mobile Limited, said, “As we close out FY2023, it is my pleasure to share that ROUTE MOBILE has reached a significant milestone, achieving an annual run rate of half a billion dollars in revenue. It’s remarkable to have the entire Route Mobile team continually raising the bar and achieving exceptional results that have helped propel our company’s revenue to new heights. This is despite the slow pace of global economic development due to the ongoing battle against inflation”.

“Route Mobile is a global CPaaS provider and one of the leaders in driving increased mobile engagement. Considering the strong traction across new products, we have created dedicated SBUs for each of the new products. Our ambition does not stop here, as we aspire to become a billion-dollar revenue company over the next 3-4 years, through a strategic blend of organic and inorganic growth.”

He further added, “Our impressive performance in Q4FY2023 has helped us end the year on a high note, with the quarter’s revenue being the highest we have ever achieved. This has been driven by our strategy of developing numerous growth levers across various geographies, new product launches, entrepreneurial collaborations, and our unwavering determination to deliver high-quality contract wins across the CPaaS value chain.”

Air India fast tracks Tier Status upgrade to reward Loyalty members

Bangalore, 22 May 2023: Air India, India’s leading airline and a Star Alliance member, has given wings to its Frequent Flyer Programme – ‘Flying Returns’ (FR) with a limited-time opportunity for members to fast-track their tier status upgrade or renewal with just 50 % of the usual required qualifying FR points.

This accelerated path to enjoying the benefits offered by Air India and other members of the 25-strong Star Alliance is in line with the airline’s mission to establish Flying Returns as amongst the most rewarding loyalty programmes globally.

Commenting on the promotion, Nipun Aggarwal, Chief Commercial Officer, said, “As we continue to transition to a global best aviation loyalty programme, we wanted to have many more of our members experience the benefits of India’s oldest and largest loyalty program, at a time when we have significantly improved the member experience and continue to make further improvements. We are committed to the needs and preferences of our passengers and will continue to deliver innovative programmes and products to enhance our members’ experience.”

The refreshed Flying Returns programme offers compelling benefits and rewards for every member. These include:

Star Alliance Advantages: Flying Returns is the only airline programme in India that offers its members access to the global network connectivity provided by Star Alliance through its 25 other international member airlines. With Flying Returns, members have access to over 1 lakh redemption seats every month on Air India and Star Alliance partner airlines. Members can fly Air India or any other 25 global Star Alliance member airlines and earn points every time they travel. Air India has recently refreshed its website and members can now easily use the Miles Calculator to track accrual rates on each route. Gold & Maharaja Club Members also enjoy access to a global lounge network across 200 countries.

No Blackout Date: Air India is one of the few airlines which has done away with blackout dates, so a redemption seat will be available for members even during peak season and festival periods.

Benefits Related to Travel: With easier access to premium tiers through the Fast Track promotion, more members will get access to an array of services such as Family Pooling plans, global lounge access via Star Alliance Network, best-in-class extra baggage allowance, and priority check-in and boarding for Tier Members.

Benefits Related to Reservation: Members now also get access to a diverse range of benefits on booking, including a Welcome Bonus on first travel after enrolment as well as an additional bonus on booking through the Air India website and mobile app.

Extended Validity of FR Points: Air India has recently extended the validity of Flying Returns points and tier status till June 30, 2023. Points validity can be further extended to the end of the year if members undertake any accrual or redemption activity in their account from April 1st to June 30th 2023.

Family Pooling: The Family Pooling facility allows two or more individual members, who are related to each other, to link their accounts and combine earned Flying Returns into a single account for easier redemption. Each member will still have a different account number, but they can use miles from the connected accounts when making a redemption.

Retro Claim Offer: Flying Returns now also allows members to claim points for past flights via the ‘Retro Claim’ option. Members can claim points for travel on Air India within the past one year, or six months on any Star Alliance partner airline.

Enhanced Customer Care: Air India’s website now provides a single point of contact for Flying Returns members, with premium call centre service for Tier Members to be launched soon.

The revamped website of Air India offers a refreshed loyalty experience for members, making it easier for them to check the status of their miles on the website while presenting all relevant information at a glance.

Punjab Grill Expands its Footprint With The Launch of its First Outlet in Ahmedabad

Ahmedabad, 22nd May 2023: Punjab Grill, a renowned North Indian cuisine restaurant, continues its expansion spree with the opening of its first outlet in Ahmedabad. With the recent opening of three outlets in Bangalore and one in Indore, Punjab Grill is now making its mark in Ahmedabad, offering its authentic and hearty North Indian dishes.

A name that one associates with the royal heritage of the state of Sher-e-Punjab – An endeavor by Lite Bite Foods, the restaurant chain has been taking its guests on a majestic culinary expedition into the grandeur of the Royal States of undivided Punjab since 2008.

Reaching new heights, Punjab Grill is thrilled to announce its new outlet opening in Ahemdabad, Palladium Mall. Known as the pioneer of the North-Indian cuisine, the food here is more than just a meal, titillating its patron’s tongue with authentic flavors.

Standing out in the culinary world, the restaurant chain is best known for serving the scrumptious Dal Makhani and mouth-watering Butter Chicken, amongst other traditional & contemporary dishes!

Devour in this gastronomic journey with the lion of the culinary world- PUNJAB GRILL.