OnMobile Global : Q1 FY2024 Outcome of the Board Meeting

ONMOBILE GLOBAL LIMITED

Tower #1, 94/1 C & 94/2,

Veerasandra Village, Attibele Hobli,

Anekal Taluk, Electronic City Phase-1,

Bengaluru - 560100, Karnataka,

India

P: [phone] | F: [phone]

CIN - L64202KA2000PLC027860

Email - [e-mail]

www.onmobile.com

	August 7, 2023
To
Department of Corporate Services,	The Listing Department
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza,
Dalal Street,	Bandra Kurla Complex, Bandra (East)
Mumbai - 400 001	Mumbai - 400 051
Scrip Code: 532944	Scrip Code: ONMOBILE

Dear Sir/Madam,

Sub: Outcome of the Board Meeting held on August 07, 2023

Ref: Our letter dated July 14, 2023 about Notice of Board Meeting

The Board of Directors of OnMobile Global Limited ('the Company') at their meeting held on Monday, August 7, 2023 in Bangalore, through Zoom Video conference, has inter alia, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, considered and approved the unaudited financial results as per IND-AS for the quarter ended June 30, 2023. A copy of the unaudited financial results (Standalone and Consolidated) along with the limited review report of the Auditors is enclosed herewith.

The Meeting of Board of Directors of the Company commenced at 7.30 p.m IST and concluded at 10.15 p.m IST.

Request you to please take the same on record.

Thanking you,

Yours sincerely,

For OnMobile Global Limited

VARAPRASAD VENKATESWA RA PAKANATI

Digitally signed by

VARAPRASAD VENKATESWARA PAKANATI Date: 2023.08.07 22:16:47 +05'30'

P V Varaprasad Company Secretary

Encl: a/a

OnMobile Global Limited

Registered office: Tower 1, 94/1C & 94/2, Veerasandra Village, Electronic City Phase-1, Bengaluru- 560100

		CIN: L64202KA2000PLC027860 Website: www.onmobile.com
		Statement of unaudited standalone results for the quarter ended June 30, 2023
				Amount in Rs Millions except data per share
			Quarter ended		Year Ended
Sl.	Particulars	June 30, 2023	March 31, 2023	Jun 30, 2022	March 31, 2023
No	(Unaudited)	(Audited) (Ref Note 6)	(Unaudited)	(Audited)

1 Revenue from Operations

	Mobile entertainment services	531.74	521.06	543.06	2,105.57
	Other income (Net) (Note No. 4)	43.49	(22.96)	16.84	171.87
	Total Income
	575.23	498.10	559.90	2,277.44
2	Expenses
	(a) Content fee and royalty	32.18	16.33	67.18	137.40
	(b) Contest expenses	13.52	(20.11)	17.90	31.18
	(c) Cost of software licenses and others	38.33	28.85	32.11	117.07
	(d) Employee benefits expense	187.47	220.45	238.96	991.24
	(e) Finance costs	4.46	1.52	1.21	5.38
	(f) Depreciation and amortisation expenses	18.42	14.82	14.23	58.78
	(g) Marketing expenses	129.37	154.57	84.20	445.18
	(h) Other expenses	96.50	169.00	96.65	465.76
	Total expenses	520.25	585.43	552.44	2,251.99
3	Profit before tax and exceptional items (1-2)	54.98	(87.33)	7.46	25.45
4	Exceptional items (Refer Note 5)	-	(50.52)	-	(50.52)
5	Profit before tax (3-4)	54.98	(137.85)	7.46	(25.07)
6	Tax expense:
	(a) Current tax	17.40	(13.80)	2.82	27.93
	(b) Current Tax expense relating to prior years	-	(8.86)	-	(10.42)
	(c)	Minimum Alternate Tax (MAT) credit entitlement	(6.90)	(11.96)	-	(11.96)
	(d)	Deferred tax	(2.61)	(9.82)	0.98	(9.82)
	Total tax	7.89	(44.44)	3.80	(4.27)
7	Profit for the period/ year (5-6)
47.09	(93.41)	3.66	(20.80)
8	Other comprehensive income
	A. (i) Items that will not be reclassified to profit or loss	10.80	(1.68)	4.18	(1.54)
		(ii) Income tax relating to items that will not be reclassified to		0.49	(1.22)	0.45
		profit or loss	(3.15)
	B. (i) Items that will be reclassified to profit or loss	(7.48)	(15.27)	(3.28)	(42.29)
		(ii) Income tax relating to items that will be reclassified to	-	(0.08)	0.48	0.18
		profit or loss
	Other comprehensive income
	0.17	(16.54)	0.16	(43.20)
9	Total comprehensive income for the period/ year (7+8)
47.26	(109.95)	3.82	(64.00)
10	Paid up equity share capital (Face value of Rs 10/- each)	1,060.70	1,060.15	1,056.42	1,060.15
11	Other equity				6,025.12
12	Earnings per share (of Rs. 10 each) (not annualised except for year ended
	March 31, 2023)
	(a) Basic	0.44	(0.09)	0.03	(0.20)
	(b) Diluted	0.44	(0.09)	0.03	(0.20)

OnMobile Global Limited

Registered office: Tower 1, 94/1C & 94/2, Veerasandra Village, Electronic City Phase-1, Bengaluru- 560100

CIN: L64202KA2000PLC027860 Website: www.onmobile.com

Statement of unaudited standalone results for the quarter ended June 30, 2023

1. The unaudited standalone results for the quarter ended June 30, 2023 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held on August 7, 2023. The above results have been subjected to limited review by the statutory auditors of the Company. The review report of the statutory auditors is unmodified.
2. These financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant circulars issued thereunder
3. The Company is engaged in providing Mobile Entertainment Services and its operations are considered to constitute a single reportable segment in the context of Ind AS 108- "Operating Segments"
4. Other income for the year ended March 31, 2023 includes Rs. 54.33 Million on account of writeback of intercompany payables (net off receivables) with respect to subsidiaries / overseas branches which are either liquidated or are in the process of liquidation on account of cessation of operations.
5. Exceptional items include -
6. 1. Amount recorded towards impairment of investments in wholly owned subsidiaries - Rs. 8.51 Million for the quarter and year ended March 31, 2023
   2. Head count restructuring and optimization cost of Rs. 42.01 Million for the quarter and year ended March 31, 2023.
7. The figures for the 3 months ended March 31, 2023 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
   For and on behalf of Board of Directors of Onmobile Global Limited

FRANCOIS CHARLES SIROIS

Digitally signed by

FRANCOIS CHARLES SIROIS Date: 2023.08.07 21:11:44 +05'30'

François-Charles Sirois

Executive Chairman

Place: Montreal, Canada

Date: August 7, 2023

B S R & Co. LLP

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Limited Review Report on unaudited standalone financial results of Onmobile Global Limited for the quarter ended 30 June 2023 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Onmobile Global Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results of Onmobile Global Limited (hereinafter referred to as "the Company") for the quarter ended 30 June 2023 ("the Statement") .
2. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
4. Attention is drawn to the fact that the figures for the three months ended 31 March 2023 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
5. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it

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B S R & Co. LLP

Limited Review Report (Continued)

Onmobile Global Limited

contains any material misstatement.

For B S R & Co. LLP

Chartered Accountants

Firm's Registration No.:101248W/W-100022

PRAVEEN KUMAR JAIN

Digitally signed by

PRAVEEN KUMAR JAIN Date: 2023.08.07 21:23:30 +05'30'

	Praveen Kumar Jain
	Partner
Bengaluru	Membership No.: 079893
07 August 2023	UDIN:23079893BGYQWG8351

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