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Telecom services company OnMobile Global announced Q3FY24 & 9MFY24 results:
Financial Highlights for Q3FY24:
- Q3FY24 revenue at Rs 1,222 million, down 10.3% QoQ due to reconciliation adjustments with customers recognized last quarter.
- Q3FY24 international revenue is 92% of total revenue.
- During the quarter, opex cost reduced by 8.6% to Rs 114 million.
- Mobile gaming: 14 operators went live in Q3 FY24.
Financial Highlights for 9MFY24:
- 9MFY24 Gross profit margin stood at 53.2% vs 52.3% YoY.
- 9MFY24 EBITDA at Rs 248 million vs Rs 107 million in 9MFY23, 2.3x YoY; Operating profit is over 5x YoY.
- 9MFY24 PAT at Rs 160 million, with a margin of 4.1%.
- Mobile gaming revenue increased by 38.8% YoY to Rs 604 million during 9MFY24.
- Mobile gaming: 89 operators went live in 9MFY24.
Commenting on the results, V.S. Ganesh, Managing Director, Page Industries said, “This quarter’s topline & profitability got jolted by delayed launches and one-off billings done in the last quarter with some customers. Our gaming business, saw growth with an increase of 38.8% YoY during 9MFY24.”
Commenting on the results, Radhika Venugopal, VP Finance, said, “For 9MFY24, despite the decline in top-line, EBITDA and Operating profit saw a growth of 2.3x and over 5x on YoY basis respectively. We are witnessing a steady increase in the number of active subscribers for our Gaming Business, which will help us improve revenue & profitability in the coming quarters.”
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