OnMobile Global : Q1 FY2024 Consolidated Financial Results

OnMobile Global Limited

Registered office: Tower 1, 94/1C & 94/2, Veerasandra Village, Electronic City Phase-1, Bengaluru- 560100

	CIN: L64202KA2000PLC027860 Website: www.onmobile.com
	Statement of unaudited consolidated results for the quarter ended June 30, 2023
		Amount in Rs Millions except data per share
		Quarter ended		Year ended
Sl. No Particulars	June 30, 2023	March 31, 2023	Jun 30, 2022	March 31, 2023
(Unaudited)	(Audited) (Ref Note 6)	(Unaudited)	(Audited)

1 Revenue from Operations

	Mobile entertainment services	1,370.64	1,282.00	1,351.28	5,251.65
	Other income (net)	41.36	(12.32)	6.04	107.06
	Total Income	1,412.00	1,269.68	1,357.32	5,358.71
2	Expenses
559.39	562.52	643.28	2,431.06
	(a) Content fee and royalty
	(b) Contest expenses	16.43	(18.66)	17.90	32.90
	(c) Cost of software licenses and others	40.77	31.39	37.83	136.50
	(d) Employee benefits expenses	281.03	320.72	320.67	1,339.06
	(e) Finance costs	5.06	2.50	1.98	5.95
	(f) Depreciation and amortisation expenses	28.72	25.77	24.77	102.58
	(g) Marketing expenses	230.61	245.19	151.85	754.52
	(h) Other expenses	128.81	120.26	103.58	432.74
	Total expenses	1,290.82	1,289.69	1,301.86	5,235.31
3	Profit before share of profit/(loss) of associates, exceptional
121.18	(20.01)	55.46	123.40
	items and tax (1 - 2)
4	Share of profit/(loss) of associates	0.14	(0.26)	-	0.14
5	Profit before tax and exceptional items (3+4)
121.32	(20.27)	55.46	123.54
6	Exceptional items - net (Refer note 5)	-	(51.64)	-	(51.64)
7	Profit before tax (5+6)
121.32	(71.91)	55.46	71.90
8	Tax expense
	(a) Current tax	22.78	(9.53)	11.05	53.61
	(b) Earlier year provision	-	(10.60)	-	(10.60)
	(c) Deferred tax	6.94	(18.62)	3.20	(27.03)
	(d) Minimum Alternate Tax (MAT) credit entitlement	(6.90)	(11.96)	-	(11.96)
	Total tax	22.82	(50.71)	14.25	4.02
9	Profit for the period / year (7-8)
98.50	(21.20)	41.21	67.88
10	Other comprehensive income	10.80
	A. (i) Items that will not be reclassified to profit or loss	(1.68)	4.18	(1.54)
	(ii) Income tax relating to items that will not be reclassified	(3.15)	0.49	(1.22)	0.45
	to profit or loss
	B. (i) Items that will be reclassified to profit or loss	(101.91)	(58.47)	49.31	36.92
	(ii) Income tax relating to items that will be reclassified to	-	(0.08)	0.48	0.18
	profit or loss
	Other comprehensive income
	(94.26)	(59.74)	52.75	36.01
11	Total comprehensive income for the period/ year (9+10)
4.24	(80.94)	93.96	103.89
12	Profit attributable to:
	Owners of the Company	98.34	(21.38)	41.21	67.27
	Non-controlling interests	0.16	0.18	-	0.61
		98.50	(21.20)	41.21	67.88
13	Total comprehensive income attributable to:
	Owners of the Company	(94.26)	(59.74)	52.75	36.01
	Non-controlling interests	-	-	-	-
		(94.26)	(59.74)	52.75	36.01
12	Paid up equity share capital (Face value of Rs 10/- each)	1,060.70	1,060.15	1,056.42	1,060.15
13	Other equity				5,485.99

14 Earnings per share (of Rs. 10 each) (not annualised except for year

ended March 31, 2023)
(a) Basic	0.93	(0.02)	0.39	0.64
(b) Diluted	0.93	(0.02)	0.38	0.64

OnMobile Global Limited

Registered office: Tower 1, 94/1C & 94/2, Veerasandra Village, Electronic City Phase-1, Bengaluru- 560100 CIN: L64202KA2000PLC027860 Website: www.onmobile.com

Statement of unaudited consolidated results for the quarter ended June 30, 2023

1 (a) The consolidated results for the quarter ended June 30, 2023 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held on August 7, 2023. The above results have been subjected to limited review by the statutory auditors of the Company. The report of the statutory auditors is unmodified.

(b) Key numbers of Standalone Financial Results of the Company for the quarter ended June 30, 2023 are as under:

				Amount in Rs. Millions
		Quarter ended		Year ended
Particulars	June 30, 2023	March 31, 2023	June 30, 2022	March 31, 2023
(Unaudited)	(Audited)	(Unaudited)	(Audited)
Total Income	575.23	498.10	559.90	2,277.44
Profit before Tax	54.98	(137.85)	7.46	(25.07)
Net Profit after Tax	47.09	(93.41)	3.66	(20.80)

Standalone results of OnMobile Global limited are available in investors section in www.onmobile.com and also with the stock exchanges where it is listed.

1. These financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant circulars issued thereunder.
2. The above results include consolidated results of the Company's subsidiaries : OnMobile Singapore Pte Limited, OnMobile Europe B.V., ONMO Sweden AB (formerly known as "Appland AB"), OnMobile USA LLC, Servicios De Telefonia OnMobile SA DE CV, OnMobile Global SA., OnMobile Brasil Sistemas de Valor Agregado Para Comunicacoes Moveis Ltda, OnMobile DE Venezuela C.A, OnMobile Global for Telecommunication Services, OnMobile Senegal SARL, OnMobile Uruguay S.A., OnMobile Bangladesh Private Limited, OnMobile Mali SARL, OnMobile Kenya Telecom Limited, OnMobile Telecom Limited , OnMobile Global Spain S.L.U, OnMobile Costa Rica OBCR SA., OnMobile Uganda Limited, OnMobile Zambia Telecom Limited, OnMobile Madagascar Telecom Limited, OnMobile Rwanda Telecom Limited, OnMobile Nigeria Telecom Limited, OnMobile Tanzania Telecom Limited, OnMobile Ghana Telecom Limited (liquidated w.e.f. April 11, 2022), OnMobile Telecom (SL) Limited (liquidated w.e.f. August 19, 2022), OnMobile Global Solutions Canada Limited, OnMobile Global Italy S.R.L, Onmobile Turkey Telekomunikasyon Sistemleri Limited Şirketi, Onmobile Telecom Burkina Faso, SARL, OnMobile Portugal SGPS Unipessoal LDA (Zona Franca Da Madeira), ONMO Inc (erstwhile OnMobile Live Inc.), 2dayUK Limited., OnMobile Global Limited Columbia S.A.S.(Liquidated w.e.f. July 7, 2022), OnMobile Global South Africa (PTY) LTD, OnMobile South Africa Technologies (PTY) Limited), OnMobile Bangladesh Technologies Private Limited, S.L, 9447-9029 Quebec Inc. (formerly known as Les Productions Back to the Game Inc.) and Technologies Rob0 Inc and associate Mobile Voice Konnect Private Limited.
3. The Company is engaged in providing Mobile Entertainment Services and its operations are considered to constitute a single reportable segment in the context of Ind AS 108 - "Operating Segments".
4. Exceptional items include Head count restructuring and optimization cost of Rs. 51.64 Million for the quarter and year ended March 31, 2023.
5. The figures for the 3 months ended March 31, 2023 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
   For and on behalf of Board of Directors of Onmobile Global Limited
   François-CharlesSirois Executive Chairman
   Place: Montreal, Canada
   Date: August 7, 2023