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OnMobile posts Rs 12.1 Cr loss in Q1-FY15 due to increased content costs in Europe

OnMobile Global has posted a net loss of 12.1 crore for the quarter ended June 30, 2014, as compared to a profit of Rs 14.1 crore in the same quarter last year. This loss was primarily due to a 141.5% increase year-on-year (YoY) in its content costs to Rs 418.3 crore from Rs 173.2 crore in the same quarter last year. The company mentions that it was impacted by increased content costs in Europe and a forex loss of Rs 3.9 crore. This was partly offset by savings in operating expenses. Note that OnMobile had posted a net loss of Rs 124.3 crore in the previous quarter. This however included a goodwill non-cash impairment charges of Rs 68 crore arising from the Telisma acquisition and the Synchronoss IP settlement of Rs 35.4 crore, as part of the Voxmobili divestment. Without these exceptional items, the company would’ve reported a profit of Rs 3.75 crore. Net revenues: The net revenues also declined by 4.1% YoY to Rs 182 crore for the quarter, down from Rs 189.7 crore in the same quarter last year. On a sequential basis, it declined by 10.6% from Rs 203.5 crore in the previous quarter. It's worth noting these do not include revenue figures for OnMobile Live (previously Livewire). Including OnMobile Live revenues, the company posted a net loss of Rs 23.9 crore for the quarter, as compared to 14.1 crore profit in the same quarter last year. The net revenue was up 4.8% YoY to Rs 198.8 crore for the quarter, from Rs 189.7…

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