wordpress blog stats
Connect with us

Hi, what are you looking for?

Money On Mobile revenue up 37.3% YoY to 897.3 Cr in FY14

money-on-mobile

Calpian-backed mobile money service Money On Mobile has reported revenues of $29.4 million (around Rs 180 crore) for the quarter ended March 31, 2014.

Note that this is the first quarter where Calpian has consolidated Money on Mobile’s revenues within its financial results, which otherwise was earlier reported as an investment.

What’s really interesting here though is Money on Mobile has made more money for Calpian in a single quarter than what Calpian earned in its domestic US market for the whole year. Calpian reported domestic revenues of $25,5 million for the year ended March 31, 2014.

The overall consolidated revenues of Calpian was at $55.3 million for the year. Calpian notes that it has included only the fourth quarter’s revenues of Money On Mobile in its financial results, since the company achieved majority ownership only in Q4-FY14. It had increased its stake in Digital Payments Processing Limited (Money On Mobile) to a majority 69%, up from 49.9% stake as of December 2013.

Money On Mobile Annual revenues: For the full year ended March 31, 2014, Money On Mobile reported revenues of Rs 897.3 crore, registering a 37.3% growth from Rs 653.7 crore revenues in the previous year and up from Rs 447 crore revenues in the year before (FY12).

Advertisement. Scroll to continue reading.

Money on Mobile revenue

User base: Calpian claims that Money On Mobile was accessed by 5.8 million unique users in June, of which 3.6 million users were unique users. The service has apparently been accessed by 95 million unique users since its inception. It is now offered through 1.99 lakh retail locations (198,827 retail locations), up from 1.93 lakh retail locations (193,379 retail locations) in the previous month.

Transaction Volume: The processed transaction volume grew by 8.6% month-on-month to $17.1 million as of June 2014, from $15.8 million in the previous month.

OSS India acquisition: Last month, Money On Mobile also acquired a significant stake in the Mumbai-based OSS India for an undisclosed amount. OSS India currently operates the cash card service Done Card and a range of consumer-centric services under the One Stop Shop brand.

Biometric mobile cash-out pilot: In May this year, Money on Mobile had been selected by the Unique Identification Authority of India (UIDAI) for a mobile cash out pilot using biometric authentication. This pilot will be rolled out in Mumbai, Delhi, Kolkata and Surat through 52 existing retail partner locations.

Cashflow: Calpian has $8 million cash as of March 31, 2014, up from $1 million in the previous year. Note that the company had concluded a private placement offering of $8.3 million on May 21, 2014.

Assets: Calpian’s consolidated assets is at $48.1 million for the year ended March 31, 2014. This includes $15.9 million of Money-On-Mobile assets, $10.1 million of Calpian Commerce assets and Calpian’s history-to-date invested capital in Money-On-Mobile that was included as part of the conversion from the investment accounting method to the equity accounting method when Calpian acquired majority control in the company earlier this year.

Advertisement. Scroll to continue reading.

Calpian revenues

Written By

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

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

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...

News

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...

News

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...

News

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...

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
Name:*
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