OnMobile Reports Second Quarter Fiscal 2013 Results
BANGALORE, India – November 07, 2012 OnMobile today announced the results of its second quarter of fiscal year 2013, ended September 30, 2012. Revenue for the fiscal quarter was Rs 1,798 million, a 15.8 percent increase versus the comparable period a year ago.
Financial highlights (Q2 FY2013 as compared to Q2 FY2012)
- International revenues increased by 60.6 % during Q2 FY2012 as compared to the same period a year ago; international business contributed 59 % of the Net Sales in Q2 FY2013 as compared to 42% in Q2 FY2012
- International revenue growth has been primarily driven by growth in LATAM where the company has been investing over the last 3 years
- Encouraged by this, the company has expanded its footprint to 11 countries in Africa
- OnMobile signed a sizable outsourcing contract in Europe and launched OnCloud in North America and Europe and M Radio in South Asia
- India revenues continues to decline during Q2 FY2012 as compared to the Q1 FY2013 on account of regulatory compliances
- EBITDA increased by 7.1% y-o-y from 325 million to 348 million
- The Company incurred a Forex loss of Rs.68 million during the quarter primarily on account of restatement of subsidiary financials during consolidation (Rs. 4 million in FY 2012)
- Operating Net Profit declined by 45% after excluding the one-time gain on account of the Ver Se stake sale in Q2 of FY 2012 due to the forex loss and higher effective tax rates in some international geographies
- Earnings per share at Rs 0.55 as against 0.97 in the Q2 of last fiscal
Financial highlights (Q2 FY2013 as compared to Q1 FY2013)
- Revenue declined 2.9% from Rs 1,852 million to Rs 1,798 million mainly because of regulatory compliance in the domestic market
- Net Profit declined 34.6% from Rs 95 million to Rs 62 million primarily on account of the forex loss of Rs.68 million
- Earnings per share at Rs 0.55 as against Rs. 0.82 in Q1 FY2013
About OnMobile
OnMobile [NSE India: ONMOBILE], headquartered in Bangalore, India, and with offices in all regions of the world, delivers millions of music plays daily to mobile customers worldwide. Based on current deployments, OnMobile has the potential to reach more than 1.1 billion mobile users across several geographies. For further information, please visit www.onmobile.com