OnMobile Reports First Quarter Fiscal 2021 Results

 

Revenue remains stable QoQ and grew by 5.3% YoY, EBITDA up by 64.7% QoQ and 4 times YoY, PBT up by 5 times YoY

OnMobile Global Limited (“OnMobile”) today announced the results for 1st Quarter FY21 ended June 30, 2020. Cost optimization and lower spend resulted in Earnings Before Interest, Tax and Depreciation (EBITDA) growing from INR 12.0 crores in Q4 to INR 19.8 crores in Q1, witnessing a growth of 64.7% QoQ and 4 times YoY.

Q1 FY21 Highlights:

·         Acquired 25% equity stake in AI powered visual retention leader Rob0. This investment reaffirms the importance of OnMobile's strategy to become a leader in mobile gaming market.

·         Revenue remains stable QoQ and grew by 5.3% YoY, despite Covid-19 outbreak impacting global economy.

·         Our rationalization efforts continue to yield savings with a 6.3% reduction QoQ in manpower costs with an exit headcount of 697.

·         EBITDA grew by 64.7% QoQ and 4 times YoY, to INR 19.8 crores with the margin of 14.0% in the quarter aided by cost optimization and lower spend.

·         PBT at INR 19.3 crores for Q1FY21 as compared to INR 23.5 crores in Q4FY20. Excluding one-time exceptional items during last quarter of INR 8.2 crores, PBT grew by 26.2% on QoQ basis. Also, PBT grew over 5 times on YoY basis.

·         DSO reduced to 137 days in Q1FY21 from 144 days in Q4FY20.

·         Cash stood at INR 265.9 crores. This is after Rob0 investment of INR 5.42 crores and Buyback of INR 6.52 crores.