OnMobile reports second quarter Fiscal 2020 Results

OnMobile Global Limited ('OnMobile') today announced the results for 2nd Quarter FY20 ended September 30, 2019.

Bengaluru (Karnataka) [India] Nov 1 (ANI/NewsVoir): OnMobile Global Limited ('OnMobile') today announced the results for 2nd Quarter FY20 ended September 30, 2019. Sustained focus on revenue growth, conversion of new contracts and tight control on expenses resulted in PBT growing from Rs 3.1 crores in Q1 to Rs 7.1 crores in Q2.

Q2 FY20 Highlights: Q2 FY20 Gross Revenues (before amortization of contract acquisition cost) at Rupees:

148.4 crores, grew 6.4 per cent Q-o-Q QoQ revenue growth in all major product lines

Tones + 4.6 per cent Video +13.1 per cent

Games + 1.2 per cent Manpower cost down by 3.1 per cent Q-o-Q due to reduction in headcount from 758 in Q1 to 734 in second quarter

Continuous efforts in cost optimization yielding results - lower Other COGS and Opex Q-o-Q by 16.6 per cent and 15.4 per cent respectively Q2 EBITDA up by 51.1 per cent from Rs 7.1 crores in Q1 to Rs 10.7 crores in Q2

Operating profit up manifold from Rs 0.4 crores in Q1 to Rs 6.0 crores in Q2 Profit before Tax more than doubled from 2.2 per cent of revenue in Q1 to 4.9 per cent of revenue in Q2

Cash balance of Rs 234.4 crores This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)