Conference Call with OnMobile Global Ltd. Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Other Telecom Services company OnMobile Global announced Q1FY24 results: PAT increased to Rs 98 million with a margin of 7.2% EBITDA at Rs 123 million with a margin of 9% for Q1FY24 Q1FY24 revenues at Rs 1,396 million, marginally up by 3.8% QoQ. Gross profit stood at Rs 771 million, a growth of 10% on YoY basis Challenges Arena: Revenue increased by 2x on a YoY basis and grew 22x over the last 9 quarters Challenges Arena: 73 cumulative customer confirmations and 54 customers live as on Q1FY24 Challenges Arena: 21.34 million gross subscribers as on Q1FY24 ONMO B2B: 25 Customers confirmed (10 live). Revenue grew 18% on QoQ basis In Q1FY24 manpower cost decreased by 13.3% QoQ Commenting on Q1FY24 results, Sanjay Baweja, MD & Global CEO, OnMobile, said, “The quarterly revenue performance has been better than last few quarters, and we are focused to scale it further, for rest of the year. The revenue uptick for ONMO has been encouraging, and it will continue to improve over the upcoming quarters. OnMobile continues to stay focused on profitability, targeting even better results in H2FY24. We are determined to achieve the objective of creating cutting-edge mobile gaming solutions through our focused execution and continuous efforts to digitize our core B2B business.” Asheesh Chatterjee, Global Group CFO, said, “Gross revenue saw a modest sequential growth of 3.8%, which is a good start for the FY24. We achieved a significant quarterly growth in EBITDA through cost optimization efforts. Further, our PAT stood at Rs 98 million, which shows a healthy sign for the upcoming quarters.” Result PDF