Recession continues to pound at VAS provider Tanla Solutions' revenues: this quarter witnessed a 61.5% drop in net profits to Rs. 112.07 million on a quarter on quarter basis. Profits are 80% lower than the Rs. 564.07 million recorded in Q1-09. Tanla offers a range of services including content and campaign management, an MMS gateway, phone billing through Premium SMS for mobile applications and M-Raga, a mobile radio service as well as 3G services. It caters to both Indian and international media and telecom firms, deriving most revenue from UK and Indian markets, followed by Dubai. The premium SMS business was expected to start picking up this quarter after a downfall to 6.7 million premium SMS transactions in UK last quarter from 8.9 million in Q3-09. The company invested Rs. 92.4 million into research and development this quarter. Tanla added an Israeli mobile software developer for its License Manager and mobile payments solutions. Its web access manager solution was used by a global handset manufacturer. Tanla also launched a white-labeled maps shop for S40 platform for an unnamed premium handset manufacturer. This quarter, both overseas and domestic revenues have crashed, halving gross revenues year on year. Total revenues has also dipped 38.5% from last quarter to Rs. 882.16 million. Details: Financials | Release | Conference Call Transcript Overseas Revenues, Nokia & The Michael Jackson Tour Tanla's CREAT platform, an integrated multi-serve platform that helps companies connect to global mobile operators and sell digital content and non-digital service was licensed by…
