Shares of OnMobile Global, country's largest value-added
service (VAS) company, fell as much as 6 percent intraday on Thursday to Rs
39.55 after reporting poor numbers in the July-September quarter of current
financial year.
The profit after tax fell 35 percent quarter-on-quarter to
Rs 6.22 crore in the quarter due to weaker revenues, lower EBITDA and lower
other income.
Total income dropped 2.9 percent QoQ to Rs 179.8 crore
during the second quarter, primarily driven by 8 percent QoQ drop in domestic
revenues
Earnings before interest, tax, depreciation and amortisation
(EBITDA) went down to Rs 34.8 crore from Rs 35.88 crore and EBITDA margin
declined to 19.35 percent from 19.37 percent QoQ.
Other income was down by 37.3 percent quarter-on-quarter to
Rs 3.7 crore in the September quarter.
EBITDA and PAT included a forex translation loss of Rs 6.8
crore for the quarter.
Results were operationally weak with continued challenges in
domestic market and flat quarter for international business.
Domestic revenue was down around 8 percent QoQ and 17
percent YoY. The management attributed it to tough telecom business environment
and regulatory challenges.
International revenue rose around 1 percent QoQ to Rs 106
crore. The growth in emerging markets like Latin America and Africa offset by
decline in developed markets.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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