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OnMobile net profit grows by 79% at Rs 60.3 crore for 2007-08

OnMobile Global, a leading mobile value added services (M-VAS) company, has posted a net profit of Rs 60.3 crore on a total revenue of Rs 269.3 crore for the March 2008 ended year, as compared with a net profit of Rs 33.7 crore on a total revenue of Rs 137.3 crore recorded a year ago. In the fourth quarter ended March 2008, the company earned a net profit of Rs 4.5 crore on a total revenue of Rs 71.8 crore.

OnMobile Global, a leading mobile value added services (M-VAS) company, has posted a net profit of Rs 60.3 crore on a total revenue of Rs 269.3 crore for the March 2008 ended year, as compared with a net profit of Rs 33.7 crore on a total revenue of Rs 137.3 crore recorded a year ago. In the fourth quarter ended March 2008, the company earned a net profit of Rs 4.5 crore on a total revenue of Rs 71.8 crore.

According to OnMobile Global, its voice portals generate 35 per cent of revenues from services like m-radio, cricket updates, contests and exam results. Ring back tones contribute around 40 per cent of revenues. OnMobile has said its international business accounts for 15 per cent of total revenue. VoxMobili, which was acquired for Rs 145.7 crore, contributed Rs 31 crore in OnMobile’s total revenues and Rs 13 crore in net profit during the 2007-08 fiscal year.

OnMobile is planning to acquire a couple of companies in the current fiscal year. The company has not set a specific budget for these acquisitions. The first acquisition is expected in the next two quarters. OnMobile has said it is not looking at acquisitions in India. The company believes that m-commerce is in its infancy in India and will take two to three years to become significant. [Source: ContentSutra]

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