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IMImobile’s India & SEA gross profit down 19% to £2.47M in H1-FY15

The gross profit from India & South East Asia region for IMImobile declined by 19% to £2.47 million for the six month ended September 30, 2014, from £3.1 million in the corresponding six month period last year. IMImobile says the profits declined due to the ongoing consequences of the implementation of TRAI’s VAS guidelines that impacted its customers (primarily mobile operators). The company mentions these regulations has impacted the whole market of content and value added telecom services, which is IMImobile's primary activity in the country. The total revenues from this region however grew marginally to £4.54 million for the six month period, from £4.41 million revenues in the corresponding six month period last year. The region accounted for 20.9% of IMIMobile’s overall revenues that was at £21.5 million for the six month period, up 4.9% from the corresponding period last year. In comparison, India & South East Asia region had accounted for 15.1% of IMImobile's overall revenues for the same six month period last year. Operational Highlights - Acquired UK-based mobile marketing & communications company TextLocal for around £13.15 million (£10 million in cash and around £1 million worth of IMImobile shares). Post acquisition, IMImobile was expected to integrate TextLocal’s messenger platform to its core infrastructure to strengthen its mobile engagement product suite. This acquisition also gave IMImobile access to a substantial new client base comprising small and medium sized businesses, providing them opportunities to cross-sell their offerings to these businesses. - Launched in new markets like Myanmar and is foraying into new sectors like public sectors. Earlier this week, IMImobile had partnered Karnataka government to launch a mobile governance platform called Karnataka MobileOne. This platform was developed…

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