In a note released alongwith its earnings results for the second quarter of the 2010-2011 fiscal (Q2-11), OnMobile Global has said that its operating profit has declined marginally for two reasons - a Forex loss, and a one time expense related to the purchase of Dilithium assets. OnMobile goes on to say that "The impact of both the items put together is around Rs. 20 Mn, which has impacted our Operating Profit by around 1.5 percentage points." Strange; I thought the Dilithium deal was signed in early October, after the September quarter ended. Anyway, this evens things out, since last quarter, they had reported a Forex gain of Rs. 21 million. Update: OnMobile CFO Rajesh Moorti clarified on the call that these are pre-acquisition related costs. Download: OnMobile Q2-11 results, with additional charts The company appears to have done well during the quarter, with consolidated revenue up 21.1% year on year, and net profit up 106.1%. Looks like international operations are impacting consolidated profits, since on a standalone basis (Indian operations), OnMobile reported a net profit of Rs. 24.89 crore, but a consolidated profit of Rs. 22 crore . OnMobile is in investment mode internationally, with multi-country deployment deals with Telefonica and Vodafone. - OnMobile launched services in Mexico as the third country and the first large‐scale deployment as a part of its Telefonica project in Latin America - both Ringback Tone (RBT) and Voice (portal) services have been launched. - RingBack Tone (RBT) services have been launched with Vodafone Egypt, and there…
- ONDC September Round-Up: AI, grievance redressal, financial services, Google, exports, and more September 30, 2023
- ‘The Liver Doctor’ X account suspended following defamation case by Himalaya Wellness Corporation September 29, 2023
- Bombay HC to Pronounce Judgment on Fact Check Amendment on December 1st, Stay on Notification to Continue Until Then September 29, 2023
- Here’s how web publishers can opt out of Google crawlers scraping website data to train AI models September 29, 2023
- Parliament Standing Committee Calls For A Monitoring Group To Check Technological Readiness For Digital Education Projects September 29, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...