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IMImobile’s India & SEA revenues down 21% to £8.5M in FY14

IMImobile has reported India & South East Asia revenues of £8.5 million for the financial year ended March 31, 2014, registering a 21% decline from £10.8 million in the previous year. IMImobile mentions that the revenue dipped by 12% in terms of local currency and attributed this decline to the implementation of TRAI's VAS guidelines that impacted IMImobile's customers (primarily mobile operators) which led to a period of transition as the new third party consent gateways were implemented. The decline in revenues along with a significant depreciation of the Indian Rupee last year, led to the gross profit for the Indian market declining by 29% to £5.9 million for the year, from £8.3 million profit in the previous year. In terms of local currency, the gross profit dipped by 20% for the year. The region accounts for 20% of IMIMobile's overall revenues that was at £43.4 million for the year, down from…

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