OnMobile Global spurted 7.62% to Rs 35.30 at 11:24 IST on BSE after 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.
The Q2 result was announced before market hours today, 31 October 2014.
Meanwhile, the S&P BSE Sensex was up 294.81 points or 1.08% at 27,641.14.
On BSE, so far 5.60 lakh shares were traded in the counter as against average daily volume of 2.56 lakh shares in the past one quarter.
The stock hit a high of Rs 36 and a low of Rs 33.50 so far during the day. The stock had hit a 52-week high of Rs 39.60 on 1 July 2014. The stock had hit a record low of Rs 23.50 on 14 November 2013.
The stock had outperformed the market over the past one month till 30 October 2014, surging 5.81% compared with Sensex's 2.69% rise. The scrip had, however, underperformed the market in past one quarter, sliding 9.14% as against Sensex's 4.83% rise.
The small-cap company has equity capital of Rs 114.25 crore. Face value per share is Rs 10.
OnMobile Global's revenue adjusted for the sale of Voxmobili rose 13% to Rs 207.50 crore in Q2 September 2014 over Q1 June 2014. The current quarter (Q2 September 2014) included profit on sale of Voxmobili for Rs 6.70 crore and forex gain of Rs 3 crore.
The company's EBITDA jumped 77.5% to Rs 27.80 crore in Q2 September 2014 over Q1 June 2014. EBITDA margin jumped 552 basis points sequentially to 13.4% in Q2 September 2014. EBITDA growth is despite a one-time impact of the minimum guarantee of Rs 7.80 crore in Q2 September 2014, for a contract in Europe. FY 2015 is the second year of the two year minimum guarantee obligation, the company said. The first year's impact was accounted in Q3 December 2013. Efforts to rationalize manpower and operating expenses initiated in Q2 September 2014 have started yielding results, the company said. Both manpower cost and other operating expenses have declined sequentially by around 15% which has resulted in a significant EBITDA margin expansion, OnMobile Global said in a statement.
OnMobile Global's cash & cash equivalents position improved from Rs 146.30 crore in the last quarter to Rs 289.80 crore in Q2 September 2014. This was primarily due to cash proceeds from the sale of Voxmobili, improved collections and better working capital management, the company said in a statement.
OnMobile Global is headquarted in Bangalore with services in 59 countries on 5 continents. It is a global leader in the delivery of high quality mobile services.
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