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OnMobile Global FY21 net profit soars 66.6% to Rs 46 cr

OnMobile Global's gross revenue (COGS and customer acquisition cost) declined 2.1 per cent to Rs 576 crore in the last fiscal year from Rs 588.4 crore in 2019-20

twitter-logoPTI | May 29, 2021 | Updated 19:19 IST
OnMobile Global FY21 net profit soars 66.6% to Rs 46 cr

OnMobile Global Ltd has reported 16.5 per cent decline in consolidated net profit at Rs 14.9 crore for March quarter 2020-21.

This is against a net profit of Rs 17.9 crore in January-March period a year ago, the company said in a regulatory filing on late Friday night.

Its gross revenue (COGS and customer acquisition cost) declined 9.7 per cent to Rs 137 crore in the quarter under review from Rs 151.7 crore in the year-ago period, it added.

As per the company, COGS stands for content cost, contest/gratification cost.

"Our cost rationalisation efforts and optimum marketing investments helped us to reduce manpower cost and marketing cost which resulted in EBITDA growing from Rs 12 crore in Q4 FY20 to Rs 15.4 crore in Q4 FY21, reflecting a growth of 28.2 per cent year-on-year," it said.

Net profit was up 66.6 per cent to Rs 46 crore in 2020-21 from Rs 27.6 crore in the previous fiscal year.

Its gross revenue (COGS and customer acquisition cost) declined 2.1 per cent to Rs 576 crore in the last fiscal year from Rs 588.4 crore in 2019-20, it said.

In a separate statement, OnMobile said it has recently launched a new B2B gaming product, Challenges Arena.

Challenges Arena offers an immersive experience for gamers to play and compete on quizzes and various theme-based challenges with a real-time rank and leader-board, the statement said.

"We believe Challenges Arena will emerge as a go-to-destination for Quiz and Trivia based casual challenges with several of our global customers.

"OnMobile is excited to associate with telecom and OTT partners to launch this new offering. Social play, casual e-sports, real-time engagement, immersive and exclusive digital content with virtual and real rewards makes Challenges Arena a fun and engaging experience for customers," OnMobile Vice President - Sales Biswajit Nandi said.

In the last few weeks, Challenges Arena has added over 3,50,000 gross users and 1,10,000 paying subscribers from a leading telecom operator and over 11 lakh users through an OTT partner, the statement said.

In addition, currently there are over 10 active customer discussions that OnMobile is engaged in globally, for Challenges Arena, it added.

Also Read: Glenmark Pharma Q4 results: PAT jumps 6% to Rs 234 crore

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