Spice Mobility* is delisting from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company has informed BSE that its board of directors has approved a proposal received from its promoter Smart Ventures Private Limited to voluntarily delist Spice Mobility's equity shares from NSE and BSE on January 2, 2015. The company is now seeking approval from its member shareholders for this delisting. Interestingly, ahead of this board meeting, the company shares grew by 20% to Rs 26.40 at market close on December 29 and reached a peak of Rs 33.5 on December 31. It closed at Rs 30 today, down 9.9% from Rs 33.30 at yesterday's close. There is currently no information on why Spice is delisting its shares from the stock exchanges, but here's a look at some recent major developments at the company: - Device business has posted a loss in 9 of last 12 quarters Mobile devices which contributes to a majority of Spice Mobility’s revenues has been in loss in 9 of the last 12 quarters. The only exceptions being Sep 2013 quarter (Q1-FY14) where it posted a profit of Rs 6.83 crore, June 2013 quarter (Q4-FY13) where it posted a profit of Rs 9.3 crore and Dec 2012 quarter (Q2-FY12) where it posted a profit of Rs 2.1 crore. In the previous quarter, the company had posted a net loss of Rs 9.6 crore, due to the continued increase in brand building expenses. The segment had accounted for 91.02% of the company’s revenues in the quarter. - Services revenues is also not growing Revenue from the…
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