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).

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.

Calpian revenues