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Spice Mobility’s revenues continue to slide to Rs 380 crore in Q4 FY16

Spice Mobility’s mobile devices business continues to face losses: the segment posted a net loss before tax of Rs 24.84 crore for the quarter ended March 31st 2016 (Q4 FY16), compared to a loss of Rs 24.71 crore in the previous quarter. Year-on-year, the company’s losses decreased as it reported a loss of Rs 69.79 crore the same quarter last year. The segment reported total revenues of Rs 318.39 crore for the quarter, registering a decline of 12.77% from Rs 365.02 crore the preceding quarter. On a year-on-year basis, the revenues declined by 25.15% from Rs 425.38 crore in the corresponding quarter last year. Mobile devices business continues to dominate Spice Mobility’s revenues, accounting for 83.76% of the company’s total revenues for the quarter which stood at Rs 380 crore. The mobile devices segment accounted for 85.8% of the company’s revenues in the preceding quarter. Services profit increases  The revenue from…

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