OnMobile Global Ltd reports consolidated PAT of Rs. 7.61 crore in Q2FY21

OnMobile Global Ltd. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.141.43 crores during the period ended September 30, 2020 as compared to Rs.144.02 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.7.61 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.12.09 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.0.74 for the period ended September 30, 2020 as compared to Rs.1.16 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 141.43 crs	₹ 144.02 crs	-1.8%
Net Profit	₹ 7.61 crs	₹ 12.09 crs	-37.06%
EPS	₹ 0.74	₹ 1.16	-36.21%

Q2 FY21 Highlights:

- Revenues remains stable QoQ; YoY revenue reduction of 1.5% is from Africa & Middle East region.

- Gross margin remains stable at 52.2% as compared to 52.4% in Q1FY21.

- EBITDA excluding one time items in previous quarter grew by 12.5% QoQ.

- EBITDA, Operating Profits grew by 43.4% and 101.3% respectively on YoY basis. This is mainly due to cost optimization efforts.

- PAT at INR 78 Mn grew more than 7 times YoY basis.

- Cash stood at INR 2,323 Mn. This is after customer contract cost payment of INR 361 Mn and Buyback of INR 2.5 Mn during the quarter.

- For 6 months ended period Revenue grew by 2%. EBITDA, Operating Profit and PAT grew by 98%, 348% and 522% respectively over last year.

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.141.43 crores during the period ended September 30, 2020 as compared to Rs.146.15 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.7.61 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.1.03 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.0.74 for the period ended September 30, 2020 as compared to Rs.0.10 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 141.43 crs	₹ 146.15 crs	-3.23%
Net Profit	₹ 7.61 crs	₹ 1.03 crs	638.83%
EPS	₹ 0.74	₹ 0.10	640%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.285.45 crores during the 6 months period ended September 30, 2020 as compared to Rs.289.55 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.19.70 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.3.19 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.1.90 for the 6 months period ended September 30, 2020 as compared to Rs.0.30 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 285.45 crs	₹ 289.55 crs	-1.42%
Net Profit	₹ 19.70 crs	₹ 3.19 crs	517.55%
EPS	₹ 1.90	₹0.30	533.33%

The Board of Directors of the Company in their Board meeting held on April 9, 2020 had approved buy back of 19,321,429 shares for a maximum value of INR 5,410 lakhs. The Company has during the period from April 1, 2020 to September 30, 2020 bought back 2,247,881 equity shares of Rs 10 each at a maximum price of Rs 28 per equity share. The total cash outflow as at 30 September 2020 towards shares bought back (including the expenses for buy-back) amounts to INR 680 lakhs. The window for said buy-back offer closed subsequent to the period end on October 23, 2020.

Shares of OnMobile Global Ltd. was last trading in BSE at Rs.47.4 as compared to the previous close of Rs. 47.7. The total number of shares traded during the day was 80923 in over 1100 trades.

The stock hit an intraday high of Rs. 50.15 and intraday low of 46.3. The net turnover during the day was Rs. 3959515.

Source : Equity Bulls

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