OnMobile Global Limited ("OnMobile"), the global leader in mobile gaming & entertainment, today announced the financial results for the Third quarter of FY24 ended December 31, 2023.
Highlights:
- Q3FY24 revenue at INR 1,222 Mn, down 10.3% QoQ due to reconciliation adjustments with customers recognized last quarter
- Q3FY24 international revenue is 92% of total revenue
- During the quarter, opex cost reduced by 8.6% to INR 114 Mn
- Mobile gaming: 14 operators went live in Q3 FY24 and 89 went live during 9MFY24
- Mobile Gaming: 33.22 Mn gross subscribers as on Q3FY24 and Net active subscribers at 5.34 Mn
- 9MFY24 Gross profit margin stood at 53.2% vs 52.3% YoY
- 9MFY24 EBITDA at INR 248 Mn vs INR 107 Mn in 9MFY23, 2.3x YoY; Operating profit is over 5x YoY
- 9MFY24 PAT at INR 160 Mn, with a margin of 4.1%
- Mobile gaming revenue increased by 38.8% YoY to INR 604 Mn during 9MFY24
Commenting on Q3FY24 results, Sanjay Baweja, MD & Global CEO, OnMobile, said, "This quarter's topline & profitability got jolted by delayed launches and one-off billings done in the last quarter with some customers. Our gaming business, saw growth with an increase of 38.8% YoY during 9MFY24."
Radhika Venugopal, VP Finance, said, "For 9MFY24, despite the decline in top-line, EBITDA and Operating profit saw a growth of 2.3x and over 5x on YoY basis respectively. We are witnessing a steady increase in the number of active subscribers for our Gaming Business, which will help us improve revenue & profitability in the coming quarters."
Shares of OnMobile Global Limited was last trading in BSE at Rs. 95.85 as compared to the previous close of Rs. 109.25. The total number of shares traded during the day was 558900 in over 6961 trades.
The stock hit an intraday high of Rs. 105.30 and intraday low of 95.10. The net turnover during the day was Rs. 55234391.00. |
