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S Mobility Q2-FY12: Profits Down 77% YoY At Rs 12Cr

For the quarter ended 30th September 2011, S Mobility*’s total income was Rs 540.7  crore, an increase of  12.48% from its income in Q2FY11, when it had reported a total income of Rs 480.7 crore. Its net profits went down by more than 77% YoY to Rs 12 crore from Rs 54 crore that it registered during the same quarter, last year.

– The company’s mobile devices business reported a total revenue of Rs 478.4 crore, an increase of 11.8%. Segment result or Profit before tax and interest, for mobile devices was Rs 2.1 crore, a significant decline compared to Q2FY11 when it reported a profit of Rs 39.5 crore.

– The Services business segment reported net revenues of Rs 62.3 crore, a growth of 14.52% compared to Q2FY11 revenues of Rs 54.4 crore. The segment results for services was at Rs 8.3 crore,  a decrease from last year’s results which were at Rs 11.9 crore.

Download: Results

Highlights:

– According to a statement from the company, S Mobility has started investing in hiring and market expansion reflected in increased expenses in manpower, branding and administrative cost, to focus on the Mobile Internet space.

– A subsidiary  of the company has subscribed to 100% equity in S Retail Fze and it has been consolidated from the date of incorporation.

– The company has also subscribed for 100% equity in Spice VAS Zambia, which has not been consolidated, since there are no operations. Same is the case with S Mobility (HK).

– During the quarter, the company has reversed liability of a proposed dividend of Rs 6.2 crore for the year ended 31st March 2011, based on a waiver letter received from the trustees of Independent non-promoter trust.

Disclosure: Spice Digital is an advertiser with MediaNama.

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