OnMobile Global Net Profit Jumps Manifold To Rs 8.54 Crore In Q2
Mobile gaming and entertainment firm OnMobile Global on Tuesday posted multi-fold jump in its consolidated net profit to Rs 8.54 crore in September 2023 quarter compared to a year ago mainly on the back of higher revenues.
The consolidated net profit of the company was Rs 0.62 crore in the quarter ended on September 30, 2022, a company statement said.
Total income rose to Rs 141.93 crore in the quarter from Rs 135.07 crore in the same period a year ago.
Sanjay Baweja, MD & Global CEO, OnMobile Global, said in the statement, "During the quarter we witnessed a negative impact on the topline primarily driven by a shift in the business model of one of our key customers. Despite the setback, our gaming business, both ONMO and Challenges Arena, continues to see growth momentum, witnessing an expansion of 81.8 per cent YoY (year on year)."
Asheesh Chatterjee, Global Group CFO, said in the statement that in Q2FY24, while gross revenue remained flat on YoY basis, our EBITDA and PAT (profit after tax) both witnessed remarkable growth.
The company has undertaken cost optimisation measures to improve profitability, which will continue to give positive effects in the coming quarters, he pointed out.
The Bengaluru-based company has presence in over 50 countries across the globe.