OnMobile Global gains on improved cash position

OnMobile Global has gained around 9% at Rs 35.70 in early trade on BSE mainly on account of improved cash and cash equivalent position in the July- September quarter

OnMobile Global has gained around 9% at Rs 35.80 in early trade on BSE mainly on account of improved cash and cash equivalent position in the July- September quarter at Rs 289.8 crore from Rs 146.3 crore in the same quarter last fiscal.  This was primarily due to cash proceeds from the sale of Voxmobili, improved collections and better working capital management.
 
 
The company reported a consolidated net loss of Rs 1.20 crore in Q2 September 2014, lower than net loss of Rs 23.90 crore in Q1 June 2014. Adjusted for sale of Voxmobili in second quarter of 2015 fiscal, company’s revenues increased by 13%  at Rs. 207.5 crore compared  to same quarter last fiscal while EBITDA increased significantly by 77.5% q-o-q to Rs. 27.8 crore.

 
 

While continuing to increase penetration with key operators the mobile centric multi-technology provider company has recently became the exclusive caller ring back tone partner to Tata Teleservices.  72% of company’s revenues are from international business.
 
The shares opened at Rs 33.55 and have hit a high of Rs 35.45 till 9:45 AM while around 6,25,000 shares have changed hands on BSE and NSE combined.