OnMobile revenue up 36 percent in first quarter

Telecom Lead India: OnMobile has posted 36 percent y-o-y
increase in revenue to Rs 1,852 million in the first quarter of fiscal year
2013 from Rs 1,364 million.

The revenue growth was mainly driven by OnMobile’s
international markets especially in Latin America, North America and Africa.

EBITDA increased 33 percent from Rs 270 million to Rs 359
million, in line with the revenue growth. This is despite its continued
investments in manpower in nascent markets as well as salary increments
effective April 1.

Operating Margin increased marginally because of higher
amortization of market development and deployment fee in Telefonica Latin

Despite a strong growth in revenue, net Profit declined
by 26 percent. This is because of higher foreign / withholding taxes, which was
not a part of Q1 of last fiscal.

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