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OnMobile’s Q4FY18 revenue from India was Rs 32 crore, down 7.6%

OnMobile Global posted a net profit of Rs 4.3 crore for the quarter ended March 31, 2018 (Q4 FY18) compared to net profit of Rs 1.6 crore in the same quarter last year. The company had posted a net profit of Rs 2.6 crore in the preceding quarter. Revenues stood at Rs 148 crore a decline of 9.6% from Rs 164 crore in the same quarter last year. Sequentially, revenues saw a degrowth of 6.3% from Rs 158 crore. EBITDA also continued to decline. On a year-on-year basis, EBITDA was down 37% to Rs 12.4 crore. Employee costs decreased 10% from the preceding quarter to Rs 43.3 crore and costs were down 11% on a YoY basis. India business At 22% of total revenues from India, Onmobile's India business was Rs 32 crore, down 7.6% from the preceding quarter, and 22.4% on year-on-year basis. The company said that revenue decline in India revenues is because of the intense competition in the telecom sector. The mobile VAS company mentioned that it entered into an arrangement with a large operator to bundle the Ringback Tone (RBT) services for postpaid users. The company did not name the operator though, but said that it has closed commercials with another operator on the same front and the services are planned to go live in June. International business International business was stable at 78% of total revenue during the quarter. Europe: Revenue was down by 4.4% q-o-q at Rs 78.6 crore in Q4 FY’18, up 3% y-o-y…

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