wordpress blog stats
Connect with us

Hi, what are you looking for?

RS Desikan is no longer CEO of S Mobility

RS Desikan

RS Desikan has ceased to become the CEO of S Mobility* and manager of the company from the close of business hours on June 30, 2014 (yesterday), the company has informed BSE. There is currently no information on who will be replacing Desikan as the CEO of S Mobility.

Desikan had joined S Mobility as the CEO in February 2012. Before that, he was the group CFO and Director (finance) at Mastek Limited. He has held top management positions in various organizations in India and abroad for over 35 years.

Earlier in February, Dilip Modi had also taken over as the chairman of S Mobility after BK Modi had stepped down from his position as the director and chairman of the company.

S Mobility had reported Rs 18.67 crore loss for the quarter ended March 31, 2014, a significant increase from Rs 5.43 crore loss in the same quarter last year and Rs 1.47 crore loss in the previous quarter. This was primarily due to Rs 17.93 crore loss in the mobile devices segment.

The company had said this loss was due to its decision to invest in brand building through increased media spends and better distribution infrastructure to grow its business. The branding expense for the quarter had shot up by 135.7% YoY (year-on-year) to Rs 21.71 crore from Rs 9.21 crore in the same quarter last year. On a quarterly basis, it increased by 43% from Rs 21.71 crore in the previous quarter.

Advertisement. Scroll to continue reading.

S Mobility currently generates majority of its revenues from mobile device sales, with the segment accounting for around 89.9% of the company’s revenues for the quarter which was at Rs 468.99 crore, up 18.9% YoY.

In May this year, S Mobility had also completed its long-drawn buyback offering in May this year, buying 10.22 million shares for Rs 36.85 crore at a price of Rs 36.05 per share. This represented 61.42% of the maximum buyback size. Through this buyback, promoter group shareholding had increased to 74.36%.

Last week, Google had also announced that it has partnered with Spice, Micromax and Karbonn to launch sub-$100 Android smartphones later this year, through a new initiative called Android One.

*Disclosure: Spice Digital is an advertiser with MediaNama.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.


Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.


Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.


The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.


For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ