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S Mobility* has reported revenues of Rs 534.02 crore for the quarter ended September 30, 2013 (Q1-FY14), a 1.73% decline from Rs 543.4 crore revenues in the same quarter last year but a 19.9% increase from Rs 445.4 crore in the previous quarter.

The company was however more profitable on an operating level: a profit of Rs 8.45 crore for the quarter, up from Rs 3.2 crore profit in the same quarter last year but down from Rs 21.4 crore profit in the previous quarter.

Mobile Devices In Profit: Revenues from the mobile devices segment marginally dipped on a yearly basis to Rs 483.05 crore, down from Rs 483.35 crore in the same quarter last year, however the segment reported a profit before tax of Rs 6.83 crore for the quarter, as compared to Rs 1.15 crore loss in the same quarter last year. The segment had reported a profit of Rs 9.3 crore in the previous quarter, posting a profit after six straight loss quarters.

S Mobility currently generates majority of its revenues from its devices segment and the segment contributed for around 90.46% of the company’s total revenue for the quarter, up from 88.9% in the same quarter last year.

Increased Profits in Services: The revenue from the S Mobility’s services business dipped significantly on a yearly basis to Rs 53.48 crore for the quarter, down from Rs 60.5 crore in the same quarter last year. However, its profits were significantly higher at Rs 5.54 crore for the quarter, up from 0.64 crore profit in the same quarter last year. The segment had posted a profit before tax of 9.28 crore in the previous quarter.

Services contributed for around 10% of S Mobility’s total revenues for the quarter, down from 11.1% in the same quarter last year.

AndroidLand: During the quarter, Spice Mobility launched the first two AndroidLand stores in India – one in Koramangala, Bangalore and another in The Great India Place Mall, Noida. These Android branded retail experience stores offers devices from Spice, Samsung, Sony, HTC,Lenovo, Xolo, Micromax, Karbonn, LG, among others and the company plans to launch 50 such outlets over 18 months. (Read: Google Partners Spice Global To Launch Physical Android Stores In India).

Share Buyback: During the quarter, the company bought back 38.71 lakh shares (38,71,784 shares) of face value Rs 3, under the buyback offer which started on July 10, 2013 and has extinguished 38.66 lakh shares (38,66,584 shares) until September 30, 2013.

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*Disclosure: Spice Digital, a subsidiary of S Mobility is an advertiser with MediaNama