OnMobile Global reported consolidated profits of Rs 17.8 crore for the quarter ended 31st December 2011, on revenues of 168.83 crore. Revenues were up year on year from Rs 148.61 crore, and Rs 155.22 sequentially, while Telecom VAS revenues were up 28.36% year on year, to Rs 159.24 crore, from Rs 129.42 crore the previous fiscal. International revenues, the company said, contributed 48% of its topline, against 42% in the previous quarter, and in the month of December, around 50% of its revenues came from international markets.

Content costs for OnMobile increased sequentially by 5.12%, but declined year on year by 20.82%.

What is telling is that, on a rolling four quarter basis, OnMobile has reported a 9% decline in domestic revenue (Net), down to Rs 360.2 crore over the last four quarters, compared with Rs 393.9 crore the four quarters before that. International revenue, during the same period, increased to Rs 233.5 crore from Rs 133.1 crore, pushing net revenue up to Rs 593.8 crore, from Rs 527 crore.

OnMobile expects international to be more than 50% in Q4. According to revenue distribution figures shared by the company, till date this year, around 59% of revenues have been from India, down from 74% for the same time-span the year before. The company launched operations in three more countries in Latin America, extending its reach to 11 countries, and “Telefonica LatAm project has recorded its first positive quarter on an operating basis. The project had turned cash-flow positive in the last quarter and is now operating-profit positive.”

Amit Rastogi joined the company as its Chief Financial Officer during the quarter, moving from GE, replacing Rajesh Moorti.

During the quarter, the company also bought back 1,925,200 equity shares. Do read our interview with OnMobile CEO Arvind Rao on the buyback.

The company has not shared any information on its product portfolio or deployments, and while competitors are making a switch to the Mobile Internet – and such a move has been suggested by Vodafone India – we’re not quite sure of where OnMobile stands when it comes to addressing the potential decline in Mobile VAS in India, and the growth of the Mobile Internet.

Downloads: Q3 11-12 Highlights | Published Results Consolidated | Published Results Standalone

We’ll have more from OnMobile’s earnings conference call.