wordpress blog stats
Connect with us

Hi, what are you looking for?

Spice Mobility’s device biz posts Rs 29.2 Cr loss in Q2-FY15

Spice Hotspot

Spice Mobility’s mobile devices business posted a net loss before tax of Rs 29.2 crore for the quarter ended December 31,2014, as compared to a loss of Rs 1.47 crore in the same quarter last year. In the previous quarter, it had posted a loss of Rs 9.59 crore.

The segment reported total revenues of Rs 524.36 crore for the quarter, registering a marginal 1.36% growth from Rs 517.2 crore revenues in the same quarter last year. The segment had posted revenues of Rs 497.17 crore in the previous quarter.

Mobile devices business continues to dominate Spice Mobility’s revenues, representing 91.95% of the company’s revenues for the quarter that was at Rs 570.26 crore for the quarter. The mobile devices segment accounted for 91.1% of the company’s revenues in the same quarter last year and 90.7% in the previous quarter.

Services profit increases 19% YoY: The revenue from Spice Mobility’s services business slid to Rs 47.21 crore for the quarter, down 9.2% from Rs 51.99 crore in the same quarter last year and down marginally by 3.75% from Rs 49.05 crore in the previous quarter.

The profit before tax however increased significantly to Rs 4.97 crore for the quarter, up 19.11% from Rs 4.02 crore profit in the same quarter last year and up 65% from Rs 1.74 crore profit in the previous quarter. Services business currently represents about 8.27% of Spice Mobility’s revenues for the quarter.

Advertisement. Scroll to continue reading.

Overall, Spice Mobility posted revenues of Rs 570.26 crore for the quarter, marginally up from Rs 567.71 in the same quarter last year and Rs 544.71 crore in the previous quarter. The company reported net loss before tax of Rs 221.19 crore for the quarter, as compared to a profit of Rs 2.12 crore in the same quarter last year and a loss of Rs 10.8 crore in the previous quarter.

Recent developments

– Last month, Spice Digital had appointed Sabri Amireh as its Senior Vice President. He will be responsible for Spice Digital’s business in the Middle East, CIS & North Africa (MENA) region.

– In the same month, Spice Digital acquired 38.53% stake in the Noida-based online education provider Anytime Learning Private Limited for an undisclosed amount, following which Anytime Learning has become an Associate Company of Spice Digital.

– In January, Spice Mobility promoter Smart Ventures Private Limited had also received board approval to delist the company from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company is currently seeking approval for the same from its member shareholders.

– The company had also announced plans of investing Rs 500 crores to set up a manufacturing unit in Uttar Pradesh. It also signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh for the same.

Advertisement. Scroll to continue reading.

Download: Financials

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.

News

Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.

News

Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.

News

The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.

News

For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ