OnMobile Q1 net soars 48 pc to Rs 14.06 cr

Written by Press Trust of India | Mumbai | Updated: Aug 1 2013, 03:34am hrs
Value-added services provider OnMobile today reported 47.68 per cent jump in net profit to Rs 14.06 crore for the quarter ended June 30, 2013.

The company had a net profit of Rs 9.52 crore in same period last year, OnMobile said in a statement.

OnMobile's revenues stood at Rs 189.68 crore in the reported quarter, up 2.41 per cent from Rs 185.21 crore in the corresponding period last year.

The net gain on the foreign currency transactions and translations (included in Other Income) stood at Rs 9.91 crore for the reported quarter compared to a loss of Rs 8.25 crore (January-March 2013 quarter and Rs 79 lakhs (for April-June 2012 period).

"Net profit increased 47.6 per cent at Rs 140 million at 7.4 per cent margin. Normalised for forex impact, net profit decreased 17 per cent," the statement said.

The company's international businesses increased by 19.8 per cent to Rs 125.3 crore and contributed 66 per cent of the net revenue in the reported period against 56.5 per cent in Q1 of FY 2013.

Domestic business declined 20.1 per cent to Rs 64.4 crore as a result of continued adverse scenario arising from the implementation of the TRAI regulations.

It contributed 34 per cent of the net revenue in Q1 as compared to 43.5 per cent last year.

With over 1,650 employees worldwide, OnMobile has offices around the globe, including London, Paris, Madrid, Silicon Valley, Miami and Seattle.