OnMobile Global posted a net loss of Rs 1 crore for the quarter ended December 2016 (Q3 FY17) compared to the net loss of Rs 12.5 crore in the same quarter last year. The company had posted a net profit of Rs 4.1 crore in the preceding quarter. The mobile VAS company was back to profitability in Q1FY17 after steadily narrowing losses. Revenues stood at Rs 180.5 crore a decline of 12.7% from Rs 206.8 crore in the same quarter last year. Sequentially, revenues saw a degrowth of 3.5% from Rs 187.1 crore. Revenue was down due to the demonetization in India, devaluation of the Egyptian Pound and poor performance in Brazil. EBITDA also continue to decline. On a year-on-year basis, EBITDA was down 35.2% to Rs 25.2 crore. Employee costs decreased 4.6% from the preceding quarter to Rs 50.3 crore and costs were down 6.5% on a YoY basis. India business: At 24% of total revenues, India business was Rs 43.3 crore, a marginal decline from the preceding quarter. Onmobile mentioned that its contract with Vodafone for ring-back tones and other services was renewed for a further period of 2 years effective January 2017. It renewed an agreement for providing SMS and WAP services to BSNL for a period of one year. International business International business was stable at 76% of total revenue during the quarter. – Europe: Recorded a strong revenue growth of 7.5% q-o-q. OnMobile signed a new agreement with TIM Italy to provide CVAS services. These services were launched in…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...