OnMobile Reports Third Quarter Fiscal 2013 Results
BANGALORE, India – February 02, 2013 OnMobile today announced the results of its Third Quarter of Fiscal Year 2013, ended December 31, 2012. Revenue for the fiscal quarter was Rs. 1,762 million, a 4.4% increase versus the comparable period a year ago.
Y-o-Y Highlights (Q3 FY2013 vs. Q3 FY2012)
- International revenues increased by 38.9% and contributed 64% of the Net Sales in Q3 FY2013 as compared to 48% in Q3 FY2012
- International revenue growth has been primarily driven by growth in LATAM, which recorded a 105% growth as a result of the Company’s investments over the last 3 years
- African business also continued to grow and posted a 94% growth over last year
- The Company secured contracts from two operators during the quarter for provision of RBT services in Europe
- Successfully launched the Football service in Africa in addition to winning contract for managed services for the Football service across all content types and channels
- Achieved significant growth in RBT Revenues q-o-q from an existing contract in Spain
- India revenues continued to be sluggish in Q3 FY2013, declining 27.8%
- EBITDA increased by 11.2% y-o-y to Rs. 437 million at a 24.8% margin
- There was a Forex gain of Rs. 42 million during the quarter primarily on account of restatement of subsidiary financials during consolidation (Rs. 4 million in Q3 FY 2012)
- The Company has finalized and implemented its Transfer Pricing policy with retrospective effect from the beginning of the fiscal year. The Effective Tax Rate (ETR) has declined to 35% in YTD FY2013 as compared to 48% in H1 FY2013
- Net Profit increased by 16.0% to Rs. 206 million. This included a one-time gain on account of the Ver Se stake sale of Rs. 38 million during the quarter
- Earnings per share of Rs. 1.81 as against Rs. 1.50 last fiscal year
Q-o-Q Highlights (Q3 FY2013 vs. Q2 FY2013)
- Net Profit increased from Rs. 62 million to Rs. 206 million. This included a one-time gain on account of the Ver Se stake sale of Rs. 38 million during the quarter
- Earnings per share of Rs. 1.81 as against Rs. 0.55 in last quarter
- Revenue declined 2.0% from Rs. 1,798 million to Rs. 1,762 million
- EBITDA increased 25.7% over the last quarter and includes a Forex gain of Rs. 42 million
Organizational Announcement
- In a move towards strengthening long term strategy and defining clear cut leadership, Mouli Raman, in addition to his current responsibility as Managing Director, has been unanimously selected by the Board as the CEO of the company. Mouli, assisted by a Senior Leadership Team will lead the implementation of strategy for OnMobile Global Limited. With more than 25 years of engineering and management experience, Mouli was with Infosys Technologies Ltd., before co-founding OnMobile. Prior to this role, Mouli was the CTO in charge of defining and engineering OnMobile’s products and customer service.
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