MUMBAI: Bangalore-based mobile VAS company OnMobile has posted 82 per cent drop in its net profit for the quarter ended 31 March, 2012 as its expenses jumped 38.85 per cent.
The company has posted a net profit of Rs 47.9 million for the last quarter of the fiscal, as against a net profit of Rs 268.5 million in the year ago.
Onmobile’s income from operations grew 33.18 per cent to Rs 1.78 billion, compared to Rs 1.33 billion in the preivous year.
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However, the expenses also surged to Rs 1.62 billion, from Rs 1.17 billion in the corresponding quarter of the previous fiscal. This was mainly because its spend on content fee and royalty jumped to Rs 248.4 million, from Rs 137.5 million in the year ago. The company also continued investments towards geographical expansion in Latin America, North America and Africa.
The company’s Ebitda (earnings before interest, taxes, depreciation, and amortization) increased 33 per cent to Rs 413 million, from Rs 309 million.
