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OnMobile’s Q1FY19 revenue from India was Rs 28.6cr, down 37.8% YoY

OnMobile Global posted a net profit of Rs 31 lakh for the quarter ended June 30, 2018 (Q1 FY19) compared to net profit of Rs 2.5 crore in the same quarter last year. This represents fall of 88% on YoY basis. The company had posted a net profit of Rs 4.3 crore in the preceding quarter.

The company said that the fall in net profit is because of the inclusion of one-time loss on sale of property at Rs 2.6 crore and interest on income tax refund of Rs 3.2 crore in last quarter.

Revenues stood at Rs 150.6 crore a decline of 8% from Rs 163.6 crore in the same quarter last year.

EBITDA also continued to decline. On a QoQ basis, EBITDA was down 13% to Rs 10.7 crore. Employee costs decreased 3% from the preceding quarter to Rs 47.4 crore and was up 9.6% on a YoY basis.

India business

At 19% of total revenues from India, Onmobile’s India business was Rs 28.6 crore, down 10.5% from the preceding quarter, and 37.8% on year-on-year basis.

The mobile VAS company said that it launched regional video portal in Vodafone India, which streams short video content across 12 categories and in 5 languages including Telugu, Tamil, Kannada, Malayalam & Bengali.

International business

International business was stable at 81% of total revenue during the quarter.

  • Europe: At 56% of total revenues from Internation business, Onbobile reported revenue growth of 10.6% q-o-q, and 6.6 % y-o-y basis. The Bangalore-based company launched games service in Spain under the name and brand “Movistar Juegos”. Other games launched in the region include All You Can Eat (AYCE).
  • Africa & Middle East: Revenue up by8.7 % q-o-q, and 245 y-o-y.  It launched short format video services across Middle East and Africa. It is also in discussion with operators in Middle East and Africa region for a gaming platform
  • Asia (excluding India) :Revenue grew by 1.8% q-o-q and down by 32.7% y-o-y.
  • Latam: Revenue down by 10.6% q-o-q and 32% y-o-y:
  • US: The company did not share revenue details of its business from North America. But the region contributes just 2% of its total international revenue. The company mentioned that it is building and launching video content stores in the region.  It is working with Content Delivery Networks to ensure video download/ streaming speed is optimized. It also launched an online web based interface for journalists/ columnists.

Download: Presentation | Financials

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