OnMobile Global shares drop nearly 8% after Q1 net loss widens to over ₹15 crore

In its quarterly earnings report filed with the stock exchanges after market hours on July 31, OnMobile Global posted a consolidated net loss of ₹15.29 crore for Q1FY25, compared to a net profit of ₹9.85 crore in Q1FY24. Sequentially, the company’s net loss widened compared to ₹68 lakh in the March quarter of FY24.

The telecom company also posted a 12% year-on-year (YoY) decline in its total income in Q1FY25 at ₹123.7 crore compared to ₹141.2 crore in Q1FY24. On a quarter-on-quarter (QoQ) basis total income also fell nearly 2% from ₹126.15 crore in Q4FY24.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Q1FY25 fell over 92% YoY to ₹90 lakh, compared to ₹12.3 crore in the corresponding quarter of the preceding fiscal year. Sequentially, the company’s EBITDA declined over 73% from ₹3.4 crore in Q4FY24.

Its EBITDA margin stood at 0.7% in the June quarter of FY25, down 210 basis points from 2.8% in the year-ago period.

In Q1FY25, OnMobile witnessed an increase of 22.9% OoQ in its mobile gaming revenue, which stood at ₹25.3 crore. The company also posted an increase of 13% QoQ in its active subscriber base in mobile gaming, which grew to 76.1 lakh, as per the release.

OnMobile Global is a Bengaluru-based telecommunication firm that offers a wide range of products, such as videos, tunes, games, and contests.

Onmobile Global shares closed 6.44% lower at ₹82.82 apiece on the NSE.