Rs 1 lakh became Rs 2.82 lakh in a year, this stock made investors’ bumper earnings

Multibagger Stock Tips: The stock of Route Mobile has given over 182% returns to the shareholders since its launch in the market in September last year. This mid cap share has risen to Rs 2,025 in the current trading session from its listing price of Rs 717 as on September 21, 2020. In comparison, the Sensex has gained about 48 per cent during this period.

The amount of Rs 1 lakh invested in Root Mobile stock on September 21 last year would have become Rs 2.82 lakh today. The stock has gained 2.44% in the last 2 days.

Root Mobile share is trading above 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 83 per cent since the beginning of this year. The mid-cap share hit an all-time high of Rs 2,308 on July 5, 2021 and an all-time low of Rs 625 on September 21, 2020.

The excellent performance of the stock is commensurate with the financial position of the firm. The firm reported a growth of 27.44% in Q1 net profit to Rs 34.3 crore as against net profit of Rs 26.9 crore in June quarter of the previous financial year.

Sales grew 22% to Rs 377.5 crore in the first quarter as against Rs 309.86 crore in the corresponding quarter of the previous financial year. On a quarter-on-quarter basis, sales grew by 4.16% from Rs 362.44 crore in the fourth quarter of the previous fiscal.

However, net profit declined marginally from Rs 35.47 crore in the quarter ended March of the previous financial year as the Covid-19 lockdown affected business sentiment.

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