OnMobile Global Limited Reports Revenue grew by 1.7% Q1 FY19


by Shrutee K/DNS

Bangalore, India: OnMobile Global Limited (“OnMobile”) announced the results for First Quarter FY2019 ended June 30, 2019. Revenue is up by 1.7% q-o-q after 2 consecutive quarters of decline. EBITDA margin at 7% in Q1 FY19; Operating profit for Q1 FY19 is Rs.8 Mn which is 0.6% improvement over the last quarter.

Corporate highlights: OnMobile Global Limited appoints Gianluca D'Agostino as Independent and Additional Director

Q1 FY2019 Financial performance: Revenue is up by 1.7% q-o-q after 2 consecutive quarters of decline. Witnessed a growth of 5.8% in Videos on a Q-o-Q basis. Launched U-Games in Spain. Tones sector grew 2.6% Q-o-Q. Headcount down from 905 as on end of last quarter to 857 in Q1 FY19 due to automation. Opex rationalization has ensured reduction of 7.2% Q-o-Q. EBITDA margin at 7% in Q1 FY19; Operating profit for Q1FY19 is Rs.8 Mn which is 0.6% improvement over the last quarter. Cash balance is at an all time high of Rs. 3,169 Mn on better working capital management and billed DSO improvement by 11 days. Net Profit for Q1FY 19 at Rs. 3 Mn as compared to Rs. 43 Mn in previous quarter, a dip of 93.2%. This is mainly due to inclusion of one time loss on sale of property in the current quarter amounting to Rs. 26 Mn and interest on Income tax refund of Rs 32 Mn in last quarter

Q1 FY2019 Business highlights:

International business (81% of total revenue) Overall international business at 81% of the total revenue
Europe: Europe recorded a revenue growth of 6.6% q-o-q and 10.6% y-o-y. Movistar games service launched in April with Movistar Spain under the name and brand “Movistar Juegos”, All You Can Eat (AYCE) service with no in-app purchases & no ads Curated Games (games rated above +4 and with more than 1M downloads), Parental Control and Family Plan

Latin America: Revenues down by 10.6% q-o-q and down by 32.1% y-o-y., Our portfolio powers various gaming formats like downloads, HTML5 games, pay per downloads, freemium & premium games, Launched a quick web based games store builder

Asia: Revenuegrew by 1.8% q-o-q and down by 32.7% y-o-y.

Africa & Middle East:Revenue up by 8.7% q-o-q and 24.1% y-o-y. Launching short format video services across Middle East and Africa, In discussion with operators in Middle East and Africa region for powering their unlimited gaming platform

North America: Quick build & launch of video content stores, Working with Content Delivery Networks to ensure video download/ streaming speed is optimized, Launched an online web based interface for journalists/ columnists, Content providers can upload video content fast on the digital content portal.

Domestic business (19 % of total revenue): India revenue was Rs.286 million in Q1 FY’19, down by 10.5% q-o-q and 37.8% y-o-y. Launched regional video portal in Vodafone India, Short video content across 12 categories and in 5 languages to start with Telugu, Tamil, Kannada, Malayalam & Bengali

About OnMobile: OnMobile [NSE India: ONMOBILE], headquartered in Bangalore, India, and with offices in all regions of the world, delivers over 500 million music plays daily to mobile customers worldwide. Based on current deployments, OnMobile has an addressable base of more than 1.5 billion mobile users across several geographies. For further information, please visit www.onmobile.com

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