OnMobile Global was locked at 10% upper circuit at Rs 21.65 at 9:56 IST on BSE after net profit surged 47.6% to Rs 14 crore on 2.4% growth in revenue to Rs 189.70 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced after market hours on Wednesday, 31 July 2013.
Meanwhile, the S&P BSE Sensex was up 196.35 points or 1.01% at 19,542.05.
On BSE, 57,000 shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past one quarter.
The stock hit a low of Rs 20.55 so far during the day. The stock had hit a record low of Rs 19.20 on Wednesday, 31 July 2013. The stock had hit a 52-week high of Rs 50.40 on 2 January 2013.
The stock underperformed the market over the past one month till 31 July 2013, sliding 31.48% compared with the Sensex's 0.26% fall. The scrip had also underperformed the market in past one quarter, declining 49.55% as against Sensex's 0.81% fall.
The small-cap company has equity capital of Rs 114.23 crore. Face value per share is Rs 10.
OnMobile Global's earnings before interest, taxation, depreciation and amortization (EBITDA) jumped 44.4% to Rs 51.80 crore in Q1 June 2013 over Q1 June 2012. EBITDA margin stood at 27.3%. EBITDA included foreign exchange (forex) gain of Rs 9.90 crore due to appreciation of various currencies against dollar. EBITDA normalized for forex impact grew 14.2% to Rs 41.90 crore with EBITDA margin at 22.1%.
International business rose 19.8% year on year (YoY) in Q1 June 2013 contributing 66% of net revenue during the quarter. International revenue was primarily driven by LATAM, which recorded a strong growth of 49.5% as a result of the company's past investments. African and European businesses also recorded robust growth of 28.2% and 12.5% respectively.
Domestic business declined 20.1% YoY to Rs 64.40 crore as a result of continued adverse scenario arising from the implementation of the TRAI regulations. Domestic business contributed 34% of net revenue during the quarter.
OnMobile Global, headquarted in Bangalore with services in 59 countries, is one of the largest white-labeled data and value added services (VAS) companies for mobile, landline and media service providers.
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