Spice Mobility’s devices segment registers strong yearly revenue growth

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Spice Mobility’s devices segment registers strong yearly revenue growth

August 29, 2014

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The mobile devices business of Spice Mobility posted revenues of Rs 4.98 billion during the quarter ended June 2014, registering a 30 per cent growth when compared to Rs 3.83 billion earned during the corresponding quarter in 2013. The segment, however, posted a loss before tax of Rs 33.4 million during the quarter under consideration as compared to a profit of Rs 93 billion during quarter ended June 2013.

Further, the mobile devices business segment was the largest contributor to the total revenues of the company during the reported quarter. The segment’s share in total revenue stood at over 90 per cent during the qaurter ended June 2014, as against a share of 85 per cent during the corresponding quarter in 2013.

For the financial year ended June 30, 2014, the mobile devices segment posted revenues of Rs 19.19 billion registering a 17.7 increase from Rs 16.31 billion, posted during 2012-13. The net loss before tax however increased to Rs 159.1 million during 2013014 as compared to Rs 4.4 million during 2012-13.