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International markets push OnMobile FY13 net revenues up 13.7%, India revenues down 19.6%

Bangalore-based mobile VAS firm OnMobile Global Ltd with services in 59 countries continues to see sluggish growth in its home market while revenues from

international markets grew significantly, led by Latin America. The public-listed firm reported modest a revenue rise of 13.7% to Rs 725.3 crore while net profit declined by 43.2% to Rs 47.2 crore for FY13, due to forex losses and an exceptional item. EBITDA also rose 6.8% to Rs 149.4 crore for the financial year.

International revenues shot up by 55.1 per cent to Rs 440.9 crore, driven by strong performances in Latin America (up 135.7%), Africa (up 105.3%) and Europe (up 48.4%), as a result of the company’s investments over the last three years, said a statement.

OnMobile reported considerable quarter-on-quarter revenue growth of 26.1 per cent from international markets in Q4FY13, which contributed nearly two-thirds of net sales during the period.

OnMobile’s revenues in India dipped by 19.6 per cent to Rs 284.5 crore for the financial year but showed stability in the last quarter with an increase of 5.9 per cent q-o-q to Rs 66.7 crore in the Q4FY13. In February 2013, Onmobile launched a mobile-based deals service called GreatBuyz to enable users to access deals and discounts via their handsets which is currently available only on BSNL and Idea Cellular platforms.

Overall, revenues for Q4FY13 saw a rise of 3.7% to Rs 184.1 crore while net profit decreased considerably by 47.6% q-o-q to Rs 10.8 crore. During the quarter, the firm also reported an EBITDA decline by 20% q-o-q and 15.3% y-o-y to Rs 35 crore.

In a separate development, the firm has  that it has been selected by Telefonica to revamp value added services for the operator’s Movistar Emocion content service for customers in Spain.

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