OnMobile posts Q4 net loss at Rs 124.3 cr

Mobile VAS company OnMobile has reported a net loss of Rs 124.3 crore for the quarter ended March 31, on account of impairment and forex losses of Rs 135 crore from Rs 10.8 crore in Q4 of FY 2012-13.
The company's revenues grew 10.5 per cent to Rs 203.5 crore in the reported quarter from Rs 184.1 crore in the year-ago period.
"There was an impact of Rs 68 crore as we have written down the goodwill associated with the acquisition of Telisma, a company we acquired in 2008. Also, there was a forex loss of Rs 32 crore as the Venezuelan Government introduced a new currency exchange process, which resulted in a devaluation of their local currency against US dollars," OnMobile CEO Mouli Raman said.

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Intex launches Aqua i5 Mini for Rs 6,850 * Intex today launched its Aqua i5 Mini smartphone in the Indian market, priced at Rs 6,850.
Featuring a 8MP rear camera, the handset is powered by Android Jelly Bean operating system and 1.3GHz Quad core processor.

The device has a 4.5-inch display, 2MP front camera, 1500 mAh battery, 1GB RAM and 4GB built-in memory (expandable upto 32GB) as well as 5GB cloud memory.
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XOLO launches smartphone for Rs 7,499 in tie-up with Snapdeal * XOLO has partnered online marketplace Snapdeal.Com to launch its new smartphone 'Q600S' in the country for Rs 7,499.

Powered by the latest Android Kitkat operating system, the device sports a 4.5-inch qHD IPS display, 1.2GHz quad-core processor paired with 1GB of RAM.
The dual SIM smartphone also features a 5MP rear camera with LED flash, VGA front-facing camera, 4GB internal storage and a 2,000 mAh battery.
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Muthoot Finance opens new white label ATM * Muthoot Finance has opened a new white label ATM (WLA) at St. George's School here today, which is the 35th of such machines installed by the company in the country.
Muthoot Finance opened the ATM at St. George's School to encourage and empower children above 10 years to develop and independently operate their finances.

"This venture is in sync with the latest plans of boosting financial inclusion by RBI. The Muthoot Atm will also enable the local residents and parents of the school children to avail regular ATM services," the company said in a release.
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Sona Koyo Q4 net down 2.52 per cent at Rs 13.82 crore * Auto components maker Sona Koyo Steering Systems today reported 2.52 per cent decline in consolidated net profit at Rs 13.82 crore for the fourth quarter ended March 31, 2014.
It had posted net profit of Rs 13.48 crore for Q4 of the previous fiscal, 2012-13, Sona Koyo Steering Systems said in a filing to the BSE.