OnMobile Global Limited, a leading company in mobile gaming and entertainment, witnessed a significant 4.16% rise in its stock price, trading at ₹81.35 on the NSE as of 9:40 AM. The surge comes on the back of the company’s robust Q2 FY25 financial results, reflecting notable growth in its gaming segment.
For the quarter ending September 30, 2024, OnMobile reported revenue of ₹131.9 crore, up 4.7% quarter-on-quarter. The company’s EBITDA for the quarter stood at ₹1.8 crore, marking a 1.4% increase. Particularly impressive was the growth in mobile gaming revenue, which surged by 27.3% to reach ₹32.2 crore. OnMobile’s active subscriber base expanded by 11.6%, totaling 8.49 million users, highlighting strong demand in the mobile gaming sector.
In a strategic move to bolster its capabilities, OnMobile has partnered with DeOSphere to enhance its gaming and network services. Through this partnership, DeOSphere will deploy its DeOS Operating System across OnMobile’s global network infrastructure, integrating advanced streaming and edge computing technologies. Additionally, DeOSphere will lease a minimum of 30 Points of Presence (POPs) from OnMobile to support the establishment of a global gaming and AI Edge Network.
The strong Q2 results, coupled with strategic expansion efforts, have bolstered investor confidence in OnMobile’s growth trajectory, leading to a positive response in the stock market.
