OnMobile Global advances after winning deal from Banglalink

OnMobile Global rose 2.61% to Rs 66.90 at 09:49 IST on BSE after the company secured a 3-year deal with Banglalink, Bangladesh to provide ringback tones and reverse ringback tones to its customers.

The announcement was made before market hours today, 28 June 2017.

Meanwhile, the S&P BSE Sensex was down 21.02 points or 0.07% at 30,937.23. The S&P BSE Small-Cap index was down 9.49 points or 0.06% at 15,131.59.

On BSE, so far 29,000 shares were traded in the counter as against average daily volume of 1.17 lakh shares in the past one quarter. The stock hit a high of Rs 67.90 and a low of Rs 66.20 so far during the day. The stock had hit a 52-week high of Rs 128.70 on 15 July 2016. The stock had hit a 52-week low of Rs 62.65 on 20 June 2017.

The small-cap company has equity capital of Rs 104.36 crore. Face value per share is Rs 10.

With this win, OnMobile Global's flagship ringback tone will be available to more than 32 million customers of Banglalink in Bangladesh. Banglalink is one of the leading digital communications services providers of Bangladesh.

As per the deal, OnMobile Global will power Amar Tune (Ringback Tone) and Priyo Tune (Reverse Ringback Tone) for Banglalink by managing the platform, content as well as business operations for the next 3 years. OnMobile Global is the global leader in ringback tones.

On a consolidated basis, OnMobile Global reported net profit of Rs 1.63 crore for Q4 March 2017 as against net loss of Rs 14.80 crore for Q4 March 2016. Total income declined 21.82% to Rs 161.56 crore in Q4 March 2017 over Q4 March 2016.

OnMobile Global, headquartered in Bangalore and with offices across the globe, delivers over 575 million music plays daily to mobile users worldwide.

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