Route Mobile advanced 2.80% to Rs 1,220.75 after the company announced the signing of an exclusive SMS firewall solution and connectivity service agreement with a leading mobile network operator (MNO) in Sri Lanka.
The agreement is for providing an end-to-end A2P monetization suite for all international A2P SMS' terminating on its network.
Under the terms of the agreement, Route Mobile will serve as the exclusive partner of the MNO for a duration of two years, as the company looks to strengthen its market position and increase its presence in Sri Lanka.
Route Mobile will provide its comprehensive real-time artificial intelligence and machine learning (AI/ML) based A2P SMS Firewall solution to the Sri Lanka based MNO. The firewall solution will enable the MNO optimize monetization, by effectively monitoring, identifying and filtering grey route international A2P SMS traffic terminating on its network.
Route Mobile will also provide managed services related to the firewall solution to the MNO. Further, as an exclusive partner, Route Mobile will leverage its reach with large global enterprises to drive international A2P SMS traffic termination on the Sri Lankan MNO's network.
Rajdipkumar Gupta, managing director and Group CEO, Route Mobile, said: We are honored to be selected as an exclusive partner by the premier MNO in Sri Lanka and we anticipate great success as we collaborate to strengthen our market presence.
While optimizing revenues for the MNO, this engagement also creates incremental revenue potential of approximately Rs 130 crore, as per our internal estimates, for Route Mobile, over the contract's tenure of two years. The engagement is slated to go live in around ten weeks from now.
Route Mobile is engaged in a cloud communication provider to enterprises, over-the-top players and mobile network operators.
The company's consolidated net profit jumped 74.5% to Rs 73.60 crore on 94.1% rise in net sales to Rs 845.84 crore in Q2 FY23 over Q2 FY22.
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