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Spice Mobility’s devices business losses increase 53.8% to Rs 10 crore in Q3FY18

Spice Mobility’s mobile devices business continues to post losses, and in this quarter it recorded a significant jump: the segment reported a net loss before tax of Rs 10.03 crore for the quarter ended December 31, 2017 (Q3FY18), as compared to a loss before tax of Rs 6.52 crore in the previous quarter. However, in the corresponding quarter last year, the company had posted a profit of Rs 1 crore. In this context it needs to be mentioned that Spice Mobility had decided to discontinue its ‘Spice’ branded handsets business, in May last year. Total revenues from the mobile devices segment stood at Rs 80.21 crore, down 24.7% from Rs 106.48 crore in the previous quarter, and less than half of the Rs 161.06 crore revenues posted in the same quarter last year. The segment accounted for 54.08% of Spice Mobility’s total revenues, which stood at Rs 148.31 crore for the quarter. Services business Revenues from Spice Mobility’s services business stood at Rs 65.24 crore for the quarter, down 6.45% from revenues of Rs 69.74 crore in the previous quarter, and down 9.3% from revenues of Rs 71.94 crore in the same quarter last year. The segment accounted for 43.98% of Spice Mobility’s total revenues. The segment posted a loss of Rs 5.57 crore, as compared to a profit of Rs 50.37 lakh in the previous quarter. In the corresponding quarter last year, the segment had posted a profit of Rs 1.96 crore. Overall, Spice Mobility posted revenues of Rs 148.31…

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