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Mobile value added services company OnMobile has registered a 17 percent rise in net profit in Q3 of 2009 to Rs 204.2 million on a QoQ basis. Standalone revenues rose by 12 percent from Rs 793.5 million in the previous quarter to Rs 888.2 million. Expenditure rose from Rs 601.6 million to Rs 651.4 million. On a consolidated basis, OnMobile posted a 50 percent growth in net profit at Rs 276.4 million in the third quarter. Total revenue rose by 19 percent to Rs 1157.2 million over the last quarter. Consolidated EBITDA stood at Rs 405.3 million.
Content costs continue to rise for OnMobile, up by 18.51% quarter on quarter, and 138% year on year. Interestingly, on the earnings conference call, OnMobile confirmed a story that we had reported in July 2008 – that they have done a content deal with SIMCA, among others. This explains the rise in the content costs.
OnMobile has won the order to provide VAS services to another GSM operator in India, has started deployment of the first RBT customer in Europe, signed a contract with an operator in Bangladesh for IVR, OBD and Subscription services, a contract with an operator in Bangladesh for Phone backup services and IVR services with another Operator in Indonesia. The company has also launched voice based Music Search with Airtel, using Telisma’s Speech Recognition. Remember that OnMobile had paid Rs. 843.7 million for the company.
The company also launched 6 applications on its OnMobile Developer Network, and has deployed one application with a mobile operator. The company spent Rs 118.9 million from the proceeds of its IPO in this quarter for the purchase of equipments for offices at Bangalore, Mumbai and Delhi, working capital requirements, loan repayments and other general corporate purposes. (With inputs from Nikhil Pahwa)
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