Updated: India and International Revenues from the earnings release
OnMobile Global reported consolidated profits of Rs 6.22 crore for the quarter ended September 30, 2012 (Q2-FY13), down 87% from Rs 47.72 crore profit in the same quarter last year and down 34.66% from Rs 9.52 crore in the last quarter. However, its worth noting that OnMobile had received a significant bump in its profits in Q2-FY12, because of the Ver Se stake sale worth Rs 50 crore on September 16, 2011.
The company reported a total revenue of Rs 179.8 crore for the quarter, up 15.84% from Rs 155.22 crore revenues in the same quarter last year but a minor 2.92% dip from Rs 185.21 crore in the previous quarter. The company attributed this dip to the regulatory compliance in the domestic market. The EBITDA increased 7.1% to 34.8 crore from 32.5 crore in the same quarter last year.
International Revenues: OnMobile stated that its International revenues increased by 60.6% during the quarter, as compared to the same quarter last year. International revenues accounted for 59% of the net sales during the quarter, as compared to 42% in Q2FY12. OnMobile stated that International revenue growth was primarily driven by the growth in Latin American region.
Product Launches: During the quarter, OnMobile expanded its presence to 11 countries in Africa, inked a significant outsourcing contract in Europe and launched OnCloud in North America and Europe and M Radio in South Asia.
India Revenues Declining: OnMobile stated that its revenues from the country continues to decline during the quarter due to regulatory compliances. The company noted that it also registered a forex loss of Rs 6.8 crore due to restatement of its subsidiary financials during consolidation.
Expenditure: The content costs stood at Rs 17.71 crore for the quarter, down from Rs 23.87 crore in the previous quarter and Rs 20.51 crore in the same quarter last year while the costs from other sales and services stood at Rs 12.04 crore, marginally down from Rs 13.24 crore in the previous quarter and Rs 13.13 crore in the same quarter last year.
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