| Log in

OnMobile Sells 9.16% Stake In Ver Se; Records Net Profit Of Rs 89.2Cr

02 May, 2011

Bangalore-based VAS company OnMobile has recorded a year-on-year net profit of Rs 89.2 crore on revenues of Rs 537.2 crore for the fiscal year 2011.

OnMobile offers various mobile products on SMS, Voice, Video, WAP, Web, USSD and On-Device Portals. The company’s EBITA for FY2011 rose 45 per cent to Rs 120.6 crore from Rs 83.1 crore in fiscal 2010. Its earnings per share (EPS) rose from Rs 7.2 to Rs 14.8.

A significant portion of the net profit and EPS stemmed from the sale of stake in Ver se Innovation Pvt Ltd, a mobile classifieds company that OnMobile incubated in 2007. OnMobile has sold 9.16 per cent stake and now holds 17.84 stake in Ver se. Details of the deal were not disclosed.

Ver se first received Rs 5.5 crore from OnMobile (which acquired 51 per cent stake in the company) in 2007 and raised Rs 20 crore from Matrix Partners in 2009. In October, OnMobile owned 27 per cent stake in the company.

Ver se launched mobile classifieds solutions for telcos such as Jobs On Mobile which was offered by Airtel. It then launched other products related to m-commerce, web, telecom, data commerce and e-commerce.

OnMobile’s Biz Growth

“OnMobile’s double-digit growth in fiscal year 2011 validates our commitment to be a global VAS leader, building on our VAS pioneer credentials. This strong performance bears testimony to the success of OnMobile’s strategy to establish a broad global footprint with acquisitions, significant customer wins and continued technology investments,” said Arvind Rao, chairman, CEO and managing director, OnMobile, in a.

For the fourth quarter of fiscal year 2011 ended March 31, 2011, the company’s revenue was up 8 per cent year-on-year to Rs 133.3 crore. Its quarterly EBITDA increased 40 per cent – from Rs 21.9 crore in the same quarter in FY 2010 to Rs. 30.7 crore. Its net profit increased 143 per cent, from Rs 11.1 crore to Rs 26.9 crore. Earnings per share increased 138 per cent, from Rs 1.9 to Rs 4.4.

Key developments during the quarter included licensing its ‘video-calling software stack’ to several major handset, chipset and platform vendors in China. The licensees will embed the OnMobile video-calling software in a range of handsets and chipsets, including the android system. OnMobile also opened an office in China and renewed its relationship with two of the biggest operators in that country.

Internationally, its ring back tones (RBT) services via its Telefonica deal have been deployed across six countries and reached over 3 million active users. The company claims that its ARPU (average revenues per user) is 2x?3x, when compared to that in India.

The company also launched a ‘social RBT’ with four telecom operators in India and abroad. A major operator in Africa selected OnMobile as the music service provider across all their music service offerings. In March, the company announced a partnership with content aggregator Starfish Mobile to offer RBT and IVR (interactive voice response) to mobile subscribers in Africa.

RCS Phonebook 2.0, an interactive user address book solution by the company, was selected for the App Garage at Mobile World Congress 2011 in Barcelona. With the Phonebook 2.0, mobile users can stay connected and communicate via live presence updates, live chat and video streaming.

OnMobile launched Reverse Ring Back Tone (RRBT) services globally for the first time – for a major operator in the Asia-Pacific region. The company has 92 telecom and media customers and continues to expand aggressively, with registered new offices in Cyprus, Senegal and Tanzania. It reaches 52 countries and has 1200 people on board.


Leave Your Comment
OnMobile exits incubatee Ver Se with 14x returns; Q3 revenues up 4.3%, PAT up 15.7%

OnMobile exits incubatee Ver Se with 14x returns; Q3 revenues up 4.3%, PAT up 15.7%

Sonam Gulati 5 years ago
Bangalore-based VAS company OnMobile Global Ltd’s consolidated revenues for...
OnMobile Global promoter hikes stake to 43.5% for around $8M

OnMobile Global promoter hikes stake to 43.5% for around $8M

Sainul K Abudheen 4 years ago
OnMobile Systems Inc, a US-based holding company of India’s largest mobile VAS...
OnMobile selling its French unit Voxmobili to US-based Synchronoss for $26M

OnMobile selling its French unit Voxmobili to US-based Synchronoss for $26M

Sainul K Abudheen 4 years ago
OnMobile Global Ltd, India’s top mobile value-added service (VAS) company, has...
No Comments

OnMobile Sells 9.16% Stake In Ver Se; Records Net Profit Of Rs 89.2Cr

Powered by WordPress.com VIP