India revenues for OnMobile Global declined 19.6% to Rs 284.5 crore for the fiscal year ended 31st March 2013 (FY13), down from Rs 353.8 crore the previous fiscal year (FY12). The decline was steeper than the annual decline in the last quarter of the year: down 21 percent in Q4-FY13, to Rs 66.7 crore, as compared with Rs 84.5 crore in Q4-FY12. OnMobile, however, said that the company witnessed stability in the India business during the quarter, which means that the decline has reduced or stabilized. India accounted only for 39% of Onmobile's revenues in the FY13, down from 55% a year ago. The growth in the international business (64.5% up in Latin America, 9.8% up in emerging markets, 8.1% up in emerging markets) to around 61% of total revenues. Onmobile expects the split between India and International revenues to be 30:70 in FY14. Onmobile also won an operator contract in Mexico. Africa reported increase in revenue by 39.8% for the quarter, and 105.3% for the full year. In Spain, the company went live with an operator, powering operator branded content services. During the year, revenues from Europe increased 48.4%, while they grew 39.7% in Q4-FY13, in comparison with Q4-FY12. More in our OnMobile FY13 results coverage: - Onmobile's earnings conference call - Quick Q&A with Onmobile MD & CEO Mouli Raman Overall Financial Results OnMobile Global has reported consolidated profits of Rs 47.18 crore for FY13, down 43.2 % from the Rs 83.09 crore reported in FY12. Revenues, however, increased…
