Cloud gaming platform OnMobile Global posts Q4 EBITDA at Rs 15 crore

Cloud gaming platform OnMobile Global clocked 28 per cent growth in earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 15 crore in the January to March quarter as compared to Rs 12 crore in the same period of previous fiscal.Cost rationalisation efforts and optimum marketing investments helped the company reduce manpower cost and marketing cost which resulted in the growth.Operating profits grew by 47 per cent to Rs 13 crore in Q4 FY21 but profit after tax cracked 16 per cent to Rs 15 crore.Revenues witnessed a drop of 9.7 per cent to Rs 137 crore from Rs 152 crore in Q4 FY20 -- mainly due to low collections from Europe and Middle East & Africa.As on March 31, the company said it had total assets worth Rs 899 crore as compared to Rs 881 crore in previous year.OnMobile provides end-to-end mobile entertainment solutions that include platform, apps, content partnerships and professional services to carriers across the globe.

from Companies https://ift.tt/3vzlW8H