I am using cocos creator v1.6.1, the labels are working fine with system font but If I use any custom ttf font then the vertical alignment is not correct on mobile devices.
@mohakagr Did you ever sold your issue? I have a huge issue with this as well in both 1.10.2 and 2.1.0 versions of Cocos Creator. It makes my games look very bad. The worst part is that it is super random. In some devices it works and in some not.