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WoNoBo parent Genesys International’s net profit boosted by other income of Rs 1.94Cr in Q2FY16

Wonobo

Street-view portal WoNoBo’s parent company Genesys International Corporation has reported a net profit of Rs 0.29 crore for the quarter ended September 30, 2015, holding steady from Rs 0.29 crore in the same quarter last year. On a sequential basis, Genesys reported a net profit decline of 90.8% from Rs 3.17 crore in the preceding quarter.

Net profit at the company was mainly boosted by other income at the company which stood at Rs 1.94 crore for the quarter compared to Rs 0.53 crore in the same quarter last year.

Operational income, however, stood at Rs 10.16 crore, a decline of 34.6% from Rs 15.53 crore in the same quarter last year. On a quarterly basis, the operational income dipped by 23.5% from Rs 13.28 crore in the previous quarter.

Genesys primarily works in the overseas market as a Geographical Information Systems (GIS) outsourcing company. It has worked for Microsoft’s search engine Bing and NAVTEQ. The company also works in areas like imagery acquisition, photogrammetry, remote sensing, and data conversion among other things.

Developments over the years:

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– Last month, Quikr made a strategic investment in Genesys International‘s venture AN Virtual Tech.

– Genesys launched WoNoBo in October 2013 to enter into the consumer segment. WoNoBo offers a street view-like 3D view of cities on the web and through an Android app which was launched in April 2014.

– In September 2014, WoNoBo introduced an application for BlackBerry devices which offered walking tours for tourist attractions in India.

– WoNoBo also added a property section in May 2014, allowing users to virtually navigate through streets and search for residential and commercial properties up for sale or rent. It also offered a street-view like 3D navigation within individual apartments and a 360 degree virtual preview of under-construction projects.

Download: Financials

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