OnMobile Global has dipped 5% to Rs 40 on the National Stock Exchange after reporting a sharp 87% year-on-year (yoy) fall in its consolidated net profit at Rs 6.22 crore in the September 2012 quarter.
The company engaged in providing value added services in telecom business had posted net profit of Rs 47 crore in previous year quarter, mainly because of the Ver Se stake sale worth Rs 50 crore on September 16, 2011.
The company’s total revenues however, grew 16% at Rs 180 crore in the quarter from Rs 155 crore revenues in the same quarter last year.
The stock hit a low of Rs 39 and has seen a combined 1.68 million shares changing hands on the counter till noon deals on the NSE and BSE.
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