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Geodesic Q3-FY11 Results: Mundu TV 0.5M Users; UID-GeoAmida

Geodesic, a digital messaging and content solutions company, has reported consolidated revenue of Rs 224.53 crore  for the quarter ended December 31st 2010, up 47.86 % from Rs. 151.85 crore for the same quarter last year, and a net profit of Rs 87.47 crore, up39.92% year on year. The company reported Earnings per share of Rs. 9.69, up from Rs. 6.78. Quarter on quarter, Geodesic reported an 87% growth in software development costs, up to Rs. 85.12 crore from Rs. 45.37 crore. They added 40 new employees to their product management team, the software engineering department and the marketing department during the quarter. What’s noticeable, though, is the absence of disclosure of content costs, the way OnMobile Global discloses theirs.

Product Rollouts

Mundu TV: The context cost should be from the licensing fee that Geodesic would have to pay to TV channels, given that it has launched the Mundu TV product. The company claims that in just three months, Mundu TV has clocked half a million users in 3 months across multiple platforms and networks. During the quarter, Geodesic also launched Mundu TV for Android and BlackBerry platforms.

Spokn VMS: Geodesic launched Spokn VMS a Voice Messaging Service that allows Spokn users in 32 countries to send a voice message through a call to any phone in the world and get a reply in the same call. During the quarter, Spokn deployed Spokn VMS on Vodafone, allowing Vodafone subscribers to to post voice updates on their Facebook wall and their friends walls.

FilmOrbit: After over a year of speaking with us about it, Geodesic has finally announced the launch of FilmOrbit (www.filmorbit.com) a portal dedicated to the Entertainment and Media industry in India. It is a discovery and an engagement site that showcases more than 2000 full length movies. The site features user reviews, formulae based discovery of films, Quizzes, contests and gaming mechanics.

Mundu Radio: Universal Microelectronics (UMEC), a Taiwanese co to implement Mundu Radio application for their Android Tablet; Geodesic announced partnership with AudioBras, Portal Radios and RadiosBR to bring more than 400 Brazilian Internet radio and online radio stations to Mundu Radio. This partnership enables Geodesic to bring Portuguese and Brazilian content, including music, news and sports to all Mundu Radio users.

IM: HiAChieve Digital Technology (HCD), a Taiwanese digital content supplier /technology ereader makers will implement Mundu IM application for HCD Android Tablet eWONDERPAD. UbiNuri is distributing Mundu IM (Android version) application in Korean market through their app store and also through SK Telecom app store. Claro (America Movil brand) launched the Windows Live Client service in Nicaragua, El Salvador and Panama through Geodesic’s subsidiary Interactive Networks Inc.

Mundu SMS Enterprise: Geodesic launched Mundu SMS for the enterprise segment by integrating contact management system, spam filters and the ability to automatically send text messages over Internet or GSM/CDMA.

Geoamida & E-Governance

Geodesic signed a Memorandum of Understanding with Abdullah Bin Mosaad Bin Abdulaziz Al’Saud to establish a joint venture (JV) to pursue E-governance and Energy solutions opportunities in Saudi Arabia and other Gulf Countries. The company also signed an agreement with International Business Promotors LLC, Muscat to diversify its financial products and GeoAmida in the Oman.

– Yes Bank Partnership: Geodesic in conjunction with Yes bank is working on their rural banking project, through a system integration partner in order to deploy GeoAmida terminals. The project will go live soon in Maharashtra and other states.

– UID Deal: Geodesic has received an order from The Unique Identification Authority of India UIDAI for GeoAmida devices. The GeoAmida devices are to be used for various proof of concept trials , as Aadhaar Authentication devices in different application situations in verticals like financial services, e]govenance, telecom and many others.

– Bartronics: Geodesic has tied up with Bartronics to employ Geoamida for its nationwide Financial Inclusion and E-governance projects. Geoamida would be extensively used for Financial Inclusion projects with six banks and it would be further scaled up to 12-15 banks with Bartronics. In addition, Bartronics will also employ Geoamida for a PDS project in one of the states.

– Essecom: Geodesic signed an agreement with Essecom, a Bangalore based software company focused on BFSI to use Geoamida terminals for their financial inclusion projects with various banks and NBFCs.

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