OnMobile Q1 revenue dips 8% to Rs 135.1 crore

OnMobile has reported 8% YoY dip in revenues at Rs 135.1 crore for the quarter ended 30th June as against Rs 146.9 crore in the same quarter of the previous fiscal. The company's gross profit has dropped 13.2% to Rs 64 crore from Rs 73.8 crore.

The company's net profit rose 36% to Rs 16.4 crore compared to Rs 12.1 crore. EBITDA was down 17% to Rs 14.5 crore, as against Rs 19.8 crore. The company's manpower cost declined 12% to Rs 30 crore from Rs 34 crore. Marketing cost jumped 52.7% to Rs 8 crore from Rs 6.1 crore.

Other Opex cost dipped 22.3% to Rs 11.5 crore from Rs 10.4 crore Other Opex cost declined by 22 3 YoY however the last quarter numbers were lower due to one time reversal of accumulated lease rentals on account of giving up of rented space.

OnMobile provides end-to-end mobile entertainment solutions that include platform, apps, content partnerships, value added services and professional services to telecom carriers across the globe. It has 97 Customers across the globe and a presence in 58 countries globally.

The company has 80.05 Million monthly users with 21.41 Million App Installs for tones and 7 Million monthly users for Videos & Editorials.

It has launched two mobile gaming products, namely Mobile Quiz Games app Challenges Arena and OnMo. Launched in April 2021, the Challenges Arena has 0.49 million gross subscribers. It is being distributed through Telcos & OTTs and is being monetised through ads and subscription.

OnMo is a cloud gaming platform which has short, best game moments and 1000s of challenges. The game uses Vision AI (Artificial Intelligence) and cloud streaming on PWA technology. The game is available directly to consumers and is also available through telcos globally.

The virtual currency for the game was launched in May ’21 while the cash battles launch will happen in September 2021. Telco launch will happen in Q3.