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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