OnMobile Global Q1 net profit up 36%1 min read . Updated: 07 Aug 2021, 04:37 PM IST
- Earnings before interest, taxes, depreciation and amortisation margin stood at 11.3% driven by its efforts on cost rationalization
Bengaluru: Cloud gaming platform OnMobile Global Ltd reported a 35.8% rise in net profit to ₹16.4 crore for the quarter ended June.
The company's total revenue from operations declined 8% from the year-ago period to ₹135 crore. Earnings before interest, taxes, depreciation and amortisation (EBITDA) margin stood at 11.3% driven by its efforts on cost rationalization.
OnMobile Global said it has made “terrific" progress on products and partnerships. On the product front, the company has launched more than 50 games on its platform and built artificial intelligence (AI) engine and cloud technology.
In terms of partnerships, OnMobile Globalsaid it is in advanced conversations with 15 telcos and in sign-up stage with three telcos across Europe, Asia, and Middle East.
OnMobile provides end-to-end mobile entertainment solutions that include platform, apps, content partnerships, value-added services, and professional services to telecom carriers across the globe.
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