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Onmobile back in the black and posts net profit of Rs 1.26 crore in Q2

Onmobile Global returned to profitability as the company reported a net profit after tax of Rs 1.26 crore for the quarter ended September 30th 2015. It had reported a net loss of Rs 0.16 crore in the preceding quarter and Rs 1.21 crore in the same quarter last year. It reported consolidated revenues of Rs 207 crore for the quarter ended September 30, a marginal decrease of 0.2% from Rs 207.5 crore from the same quarter last year and an increase of 2.6% from Rs 201.8 crore from the preceding quarter. Cash reserves for the company increased to Rs 255.7 crore compared to Rs 254.2 crore. EBITDA grew by 42% year-on-year to Rs 39.3 crore in Q2 FY’16. "Expenditure to support the development of new products and brand continues at the rate of 2% of revenue in the current quarter," the company added.   According to the company, "Headcount optimization during the last financial year and quarter resulted in a reduction of manpower cost by 23.6% y-o-y and 3.8% q-o-q." Onmobile's employee base at the end of September 2015 was 1,075. Employee costs are now 27.1% of total costs. For context, two years ago, employee cost was 40% of total costs. India business At 22% of total revenues, India business was approximately Rs 45.1 crore, down 21.6% from approximately Rs 58.09 crore from the corresponding quarter last year, where it was around 28% of revenues. Sequentially, the India business increased marginally 1.7% from approximately Rs 44 crores, (around 22% of revenues). The company won western circles from Airtel…

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