OnMobile Global, a provider of mobile services and ringback tones, said that it spent two percent of its revenue on developing its new products strategy and brands for the quarter ended June 30. "Operating expenditure has gone up from Rs 31 crores to Rs 33.7 crores in the quarter mainly because of new cost which we have started incurring on the new products strategy and the new brands," chief financial officer Praveen Kumar told analysts in a conference call. "The total costs are approximately around 2% of revenue which means it has impacted our EBITDA by around two percentage points," he added. Though OnMobile CEO Rajiv Pancholy did not specify what the new products were, he did mention while that the company was developing mobile apps. "So to answer that question I have to basically break down the investments and new…
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