IMImobile reports decline in its India and Southeast Asian business revenues for year ended March 2014

UK-based value added service provider IMImobile has reported a 27 per cent decline in revenues from its India and Southeast Asian operations from ? 10.8 million for the year ended March 2013 to ? 8.5 million for year ended March 2014. The revenue were impacted by the implementation of Telecom Regulatory Authority of India?s (TRAI) value added service (VAS) guidelines. The regulations impacted IMImobile?s customers (primarily mobile operators), which led to a period of transition as the new third party consent gateways were implemented.

The decline in revenues along with a significant depreciation of the Indian Rupee in 2013, led to the 29 per cent decrease in gross profit from the Indian operations  from ?8.3 million profit in 2012-13 to ? 5.9 million in 2013-14. In terms of local currency, the gross profit declined by 20 per cent. Further, the India and Southeast Asia region?s contribution to IMIMobile?s overall revenues declined from 28.1 per cent in the 2012-13 to 20 per cent in 2013-14.