OnMobile Global reports lower profits for July-September 2014
OnMobile Global Limited has reported profits of Rs 123.7 million for the quarter ended September 2014, as against profits of Rs 153.4 million for the quarter ended September 2013. The company reported a reduction in total revenues from Rs 1.26 billion in July-September 2013 to Rs 1.13 in July-September 2014.
The earnings before other income and finance cost for OnMobile Global increased from Rs 90.6 million for the quarter ended September 2013 to Rs 94.4 million for the corresponding quarter in 2014.
During the quarter, the company completed the divestiture of Voxmobili SA, a French subsidiary of OnMobile Global, realising around $26 million from the deal. It had signed the share purchase agreement for the subsidiary with Synchronoss Technologies France in May 2014.
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