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Ver Se Stake Sale Pushes OnMobile Profit To Rs 47.7 Crore In Q2-FY12

A sale worth Rs 50 crore in Ver Se Innovation on September 16, 2011 helped OnMobile Global post its highest profit in at least the last 14 quarters (probably more) of Rs 47.7 crore. So, without the Ver Se sale, this quarter would have been a net loss making one for the company at a consolidated level, and at a standalone level too. Interest and taxes played their part, and the PBT less other income was Rs 13.79 crore, down year on year from 15.02 crore. Onmobile sold 9-10% stake in Ver Se, and has 4-5% stake left in the company. Downloads: Q2 11-12 Highlights | Published Results Consolidated | Published Results Standalone Keep in mind that OnMobile has a significant deployment in the Latin American region, and it's international revenues are growing. The company reported total revenues of Rs 155.22 crore (up from Rs 131.53 crore the previous fiscal), and international revenues contributed 42% of topline revenues in the second quarter, and 47% in month of September. Onmobile feels that by the end of this fiscal year, over 50% of its revenues will be from international markets. They launched in one more country in the Latin American region during the quarter, and the company says that they turned cash-flow positive on the LatAm project this quarter. On the conference call, OnMobile CEO Arvind Rao said that he believes that the the Indian market will take off and see the next wave of growth when 3G becomes more pervasive, in terms of video sharing, video chat, but…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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