OnMobile Global Limited has announced the results for first quarter (Q1) financial year 2021 (FY21) ended June 30, 2020. Cost optimisation and lower spend resulted in earnings before interest, taxes, depreciation, and amortisation (EBITDA) growing from Rs 120 million in Q4 to Rs 198 million in Q1, witnessing a growth of 64.7 percent quarter-on-quarter (QoQ) and four times year-on-year (YoY).
Q1 FY21 Highlights:
- Acquired 25 per cent 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 per cent YoY, despite Covid-19 outbreak impacting global economy.
- Our rationalisation efforts continue to yield savings with a 6.3 per cent reduction QoQ in manpower costs with an exit headcount of 697.
- EBITDA grew by 64.7 per cent QoQ and 4 times YoY, to Rs 198 million with the margin of 14.0 per cent in the quarter aided by cost optimisation and lower spend.
- PBT at Rs 193 million for Q1 FY21 as compared to Rs 235 million in Q4 FY20. Excluding one-time exceptional items during last quarter of Rs 82 million, PBT grew by 26.2 per cent on QoQ basis. Also, PBT grew over five times on YoY basis.
- DSO reduced to 137 days in Q1 FY21 from 144 days in Q4 FY20.
- Cash stood at Rs 2,659 million. This is after Rob0 investment of Rs 542 million and buyback of Rs 652 million.