OnMobile Global Limited — Important, 11-11-2024: Financial Result Updates

OnMobile Global Limited has announced a board meeting. The consolidated financial results for the quarter and half-year ended September 30, 2024, show total revenue of ₹1,308.53 crore, reflecting a slight decline from the previous year. However, the mobile entertainment services segment remains stable, contributing significantly to sales.

The company reported a loss before tax of ₹108.49 crore, compared to a loss of ₹121.93 crore year-over-year. Net loss after tax for the period stood at ₹121.01 crore. Operational costs increased by 3.5%, driven mainly by higher employee expenses and marketing activities.

The balance sheet indicates a cash decrease of ₹225.21 crore during the period, primarily due to negative cash flow from operating activities. The outlook points to continued cost optimization efforts amidst challenging revenue dynamics and anticipated market stabilization. Based on the performance, a cautious hold on investment is advised as OnMobile navigates through these challenges while seeking avenues for recovery.