After reorganizing its devices based business (Spice Mobiles), device retail (Hotspot, now called Spice Retail) and Mobile Value Added Services – Spice Digital (previously Cellebrum) and Spice Labs, businesses under one entity, Spice has announced annual and quarterly results for Spice Mobility. Note that the results are not strictly comparable with the previous year, since Spice Televentures was merged with Spice Mobility with effect from 1st January 2010. The Members of the company have also approved the proposal to rename the company to " S Mobility Limited". The change will be effective after the company receives a new certificate of incorporation from the Registrar of Companies.The Company has also incorporated a new subsidiary in the name of "S Mobility (HK) Ltd" with effect from 12th May 2011 in Hong Kong. The Board of Directors have recommended a dividend of 50% - Rs 1.50 per share, on the enhanced paid up capital of the company for FY11. Also, in an intimation to the BSE, the company has informed that Saurabh Srivastava has been appointed as Additional Director on the Board, while Vijay Brijendra Chopra, Director of the company, has resigned from the board. Annual Results For the financial year ended 31st March 2011, Spice Mobility reported total revenues of Rs 2016.6 crore, an increase of 62% from last year's revenues of Rs 1245.3 crore. The company's net profit for the period was at Rs 111.7 crore, up 106% from Rs 54.3 crore that it reported last year. - The company's mobile devices business…
