S Mobility* has reported revenues of Rs 568.16 crore for the quarter ended December 31, 2013, registering a 15.9% increase from Rs 490.43 crore revenues from the same quarter last year and a 6.24% increase from Rs 534.78 crore in the previous quarter.
The company reported a profit of Rs 1.02 crore for the quarter, as compared to Rs 13.77 crore loss in the same quarter last year although this was a decline from Rs 8.11 crore profit in the previous quarter.
Mobile Devices In Loss: The mobile devices segment is back in the red after two consecutive profit quarters, in spite of it being a holiday quarter: a loss of Rs 1.47 crore for the quarter, an improvement from Rs 3.21 crore loss in the same quarter last year, but down from Rs 6.83 crore profit in the previous quarter.
The segment reported total revenues of Rs 517.34 crore for the quarter, up 20.44% from Rs 429.55 crore in the same quarter last year and up 7.1% from Rs 483.05 crore in the previous quarter. It represents around 91.06% of the company’s total revenues for the quarter, up from 87.6% share in the same quarter last year.
During the quarter, Spice along with Celkon and Zen had partnered with BlackBerry to preload the latter’s messaging app BlackBerry Messenger (BBM) on their respective smartphones. It also launched new Android-based smartphones like Smart Flo Mettle 4X, Smart Flo Mettle 5X, Smart Flo Edge, Pinnacle Stylus, Stellar Nhance 2, Smart Flo Pace 3 and Smart Flo Ivory 2 among others.
Services Revenue Declines: The revenue from S Mobility’s services business declined to Rs 52.40 crore for the quarter, down 14.03% from Rs 60.95 crore in the same quarter last year and a marginal 2.02% from Rs 53.48 crore in the previous quarter.
The segment however reported a profit of Rs 4.02 crore for the quarter, as compared to Rs 15.20 crore loss in the same quarter last year. The segment had posted a profit before tax of Rs 5.51 crore in the previous quarter.
Services business currently represents 9.22% of S Mobility’s total revenues for the quarter, down from 12.43% in the same quarter last year.
Share buyback: During the quarter, S Mobility has bought back 6.35 million equity shares (6,348,619 equity shares) of face value Rs 3 each under the ongoing buyback offer from the company and has extinguished 6.35 million shares as of December 31, 2013.
Download – Financials
*Disclosure: Spice Digital, a subsidiary of S Mobility is an advertiser with MediaNama
