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Onmobile loss declines to Rs 0.16 cr for Q1-FY16

Onmobile Global reported a net loss after tax of Rs 0.16 crore for the quarter ended June 30th 2015, down significantly from the Rs 23.88 crore loss it had reported for the same quarter last year. The company reported consolidated revenues of Rs 201.8 crore for the quarter ended June 30, a marginal increase of 1.5% from Rs 198.78 crore from the same quarter last year and a drop of 5.7% from Rs 214 crore from the preceding quarter. Adjusting for revenue from Voxmobili, which the company sold last year, the year on year increase in revenue was 9.9%. Cash reserves for the company increased by Rs 22.8 crores, it said in a statement. EBITDA grew by 124% year on year from Rs 15.6 crore in Q1 FY15 to Rs 35.1 crore in Q1 FY’16. "This growth is inclusive of new expenditure to support the development of new products and brand which is approximately 2 percentage points of EBITDA margin." According to the company, "Headcount optimization during the last financial year and quarter resulted in a reduction of manpower cost by 32.0% y-o-y and 2.0% q-o-q despite annual increments in Q1 FY'16." Onmobile's employee base at the end of June 2015 was 1,075. Employee costs are now 28.3% of total costs. For context, two years ago, employee cost was 42.3% of total costs. India business At 22% of total revenues, India business was approximately Rs 44.4 crores, down as much as 20.23% from approximately Rs 55.66 crore from the corresponding quarter last year, where…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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

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