OnMobile Global Ltd. — Interim / Quarterly Report 2023

Nov 8, 2022

ONMOBILE GLOBAL LIMITED Tower #1, 94/1 C & 94/2, Veerasandra Village, Attibele Hobli, Anekal Taluk, Electronic City Phase-1, Bangalore - 560100, Karnataka, India P: +91 80 4009 6000 | F: +91 80 4009 6009 CIN - L64202KA2000PLC027860 Email - investors@onmobile.com

www.onmobile.com

November 08, 2022

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

This is with reference to our letter dated October 17, 2022 and November 1, 2022 informing about the Board meeting scheduled on November 08, 2022.

The Board of Directors of OnMobile Global Limited (‘the Company’) at their meeting held on Tuesday, November 08, 2022 in Palm Beach, Florida, 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 and half year ended September 30, 2022. 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 08.30 a.m EST (i.e 7.00 p.m IST) and concluded at 11.45 a.m EST (i.e 10.15 p.m IST).

Request you to please take the same on record.

Thanking you, Yours sincerely, For OnMobile Global Limited

Digitally signed by VARAPRASAD VARAPRASAD VENKATESWA VENKATESWARA PAKANATI RA PAKANATI Date: 2022.11.08 22:18:54 +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 financial results for the quarter and half year ended September 30, 2022

		Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share
		Quarter ended			Half Year Ended		Year Ended
Sl. No	Particulars	September 30, 2022	June 30, 2022	September 30, 2021	September 30, 2022	September 30, 2021	March 31, 2022
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1 2 3 4 5 6 7 8 9 10 11 12	Revenue from Operations Mobile entertainment services Other income (Net) (Refer Note 8) Total Income Expenses (a) Content fee and royalty (b) Contest expenses (c) Cost of software licenses and others (d) Employee benefits expense (e) Finance costs (f) Depreciation and amortisation expenses (g) Other expenses (Refer note 11) Total expenses Profit before tax and exceptional items (1-2) Exceptional items (Refer Note 7) Profit before tax (3-4) Tax expense: (a) Current tax (b) Minimum Alternate Tax (c) Deferred tax Total tax Profit for the period/ year (5-6) Other comprehensive income A. (i) Items that will not be reclassified to profit or loss (Refer Note 9) (ii) Income tax relating to items that will not be reclassified to profit or loss B. (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss Other comprehensive income Total comprehensive income for the period/ year (7+8) Paid up equity share capital (Face value of Rs 10/- each) Other equity Earnings per share (of Rs. 10 each) (not annualised except for year ended March 31, 2022) (a) Basic (b) Diluted See accompanying notes to the financial results	502.09 82.87	543.06 16.84	459.10 7.50	1,045.15 99.71	941.70 52.20	1,981.93 194.37
		584.96	559.90	466.60	1,144.86	993.90	2,176.30
		20.82 16.13 32.02 293.48 1.16 14.17 181.39	67.18 17.90 32.11 238.96 1.21 14.23 180.85	20.50 8.10 29.30 240.60 1.40 15.50 134.70	88.00 34.03 64.13 532.44 2.37 28.40 362.24	55.10 18.70 50.60 447.80 2.80 31.00 234.90	129.99 47.69 96.18 898.00 5.43 60.74 619.85
		559.17	552.44	450.10	1,111.61	840.90	1,857.88
		25.79 -	7.46 -	16.50 -	33.25 -	153.00 -	318.42 (51.35)
		25.79 5.74 (2.22) 1.00	7.46 2.82 - 0.98	16.50 6.20 - 3.70	33.25 8.56 (2.22) 1.98	153.00 46.50 - 8.20	267.07 86.16 - 24.56
		4.52	3.80	9.90	8.32	54.70	110.72
		21.27	3.66	6.60	24.93	98.30	156.35
		(4.04) 1.17 (31.92) (0.22)	4.18 (1.22) (3.28) 0.48	(4.60) 1.30 3.00 -	0.14 (0.05) (35.20) 0.26	(0.80) 0.20 2.30 -	197.56 (46.14) 2.89 (0.18)
		(35.01)	0.16	(0.30)	(34.85)	1.70	154.13
		(13.74)	3.82	6.30	(9.92)	100.00	310.48
		1,059.02	1,056.42	10,532.00	1,059.02	10,532.00	1,056.02 6,178.77
		0.20 0.20	0.03 0.03	0.06 0.06	0.23 0.23	0.94 0.92	1.49 1.47

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 financial results for the quarter and half year ended September 30, 2022

2 [STANDALONE BALANCE SHEET]

STANDALONE BALANCE SHEET
	Amount in Rs Millions
Particulars	As at September 30,2022	As at March 31, 2022
ASSETS Non-Current Assets Property, plant and equipment Capital work-in-progress Intangible assets Intangible Assets Under Development Right-of-use asset Financial assets Investments Loans Other financial assets Income tax assets (net) Deferred tax assets (net) Other non-current assets Current Assets Financial Assets Investments Trade receivables Cash and cash equivalents Other bank balances Loans Derivative asset Other financial assets Other current assets TOTAL- ASSETS EQUITY AND LIABILITIES Equity Equity share capital Other equity Non-Current Liabilities Financial liabilities Lease liabilities Provisions Current Liabilities Financial liabilities Lease liabilities Trade payables -Total outstanding dues of micro and small enterprises -Total outstanding dues of creditors other than micro and small enterprises Other financial liabilities Provisions Income tax liabilities (net) Other current liabilities TOTAL- EQUITY AND LIABILITIES	(Unaudited)	(Audited)
	95.97 17.32 1.10 62.61 50.15 3,644.99 245.43 214.07 1,169.86 477.66 224.74	98.34 5.12 1.53 29.88 57.67 3,644.99 306.81 214.07 1,090.80 477.21 215.93
	6,203.91	6,142.35
	181.63 438.19 156.36 163.80 1.55 - 1,089.31 191.69	300.23 476.22 257.26 175.89 1.55 4.60 898.67 154.39
	2,222.54	2,268.81
	8,426.44	8,411.16
	1,059.02 6,050.81	1,056.02 6,178.77
	7,109.84	7,234.79
	41.26 134.62	48.58 131.29
	175.88	179.87
	14.07 - 683.66 226.82 5.42 85.79 124.97	13.09 - 738.29 62.99 5.60 85.79 90.74
	1,140.72	996.50
	8,426.44	8,411.16

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 financial results for the quarter and half year ended September 30, 2022

3 STANDALONE STATEMENT OF CASH FLOWS

3	STANDALONE STATEMENT OF CASH FLOWS
A B C		Amount in Rs. Millions
	Particulars	Six months ended	Six months ended	Year ended
		September 30, 2022	September 30, 2021	March 31,2022
		(Unaudited)	(Unaudited)	(Audited)
	CASH FLOWS FROM OPERATING ACTIVITIES (Loss)/ profit for the year Adjustments for : Adjustments to reconcile profit for the year to net cash flows: Income tax expenses recognised in the statement of profit and loss Depreciation and amortisation expense Impairment/write off of Investment in subsidiaries	24.95 8.32 28.40 - 33.52 - (0.59) (6.77) 19.31 32.85 - 2.37 (24.36)	98.30 54.70 31.00 - 7.20 - (0.40) (6.00) 7.40 6.30 - 2.80 (28.30)	156.35 110.72 60.74 51.35 (39.94) 11.80 (1.93) (11.31) 79.85 26.41 (101.73) 5.43 (39.45)
	Unrealised foreign exchange gain/(loss) Bad Debts written off (Gain)/ Loss on disposal of Property, plant and equipment (net) Gain on sale/redemption of Investment (net) Provision for doubtful trade and other receivables (net) Share based payments Dividend income Finance cost Interest income Operating profit before working capital changes Change in operating assets and liabilities: Trade receivables Other assets Trade payables, provisions and other liabilities
		93.05	74.70	151.94
		118.00 2.22 (281.68) (19.31)	173.00 (103.00) (303.90) (0.50)	308.29 (132.21) (323.62) (47.69)
		(298.77)	(407.40)	(503.52)
		(180.77) (101.80)	(234.40) (45.50)	(195.23) (60.51)
	Cash used in operations
	Direct taxes paid (net of refunds)
	Net cash used in operating activities	(282.57)	(279.90)	(255.74)
	CASH FLOW FROM INVESTING ACTIVITIES Purchase of tangible and intangible assets Loans given to Subsidiaries	(57.67) - 50.24 0.60 125.37 - - 12.09 56.72 -	(24.30) (444.70) 190.40 0.60 573.90 (80.70) - 129.60 74.60 30.80	(68.35) (246.69) 168.20 2.18 502.80 781.58 (1,077.75) 190.12 59.53 124.55
	Loan repaid by Subsidiaries
	Proceeds from sale of tangible assets Sale, redemption/ (purchase) of short term investments (net) Sale, redemption/ (purchase) of long term investments (net)
	Sale/(purchase) of investment in subsidiaries (net)
	Changes in other bank balances Interest received Dividend received Net cash generated from investing activities CASH FLOW FROM FINANCING ACTIVITIES
		187.35	450.20	436.17
		(2.36) (6.34) 10.84 -	(2.80) (5.50) 30.30 -	(5.43) (11.29) 41.54 (157.94)
	Finance costs Repayment of lease liabilities Proceeds from exercise of ESOPs (including premium)
	Dividend paid on equity shares including tax thereon
	Net cash (used in)/ generated from financing activities	2.14	22.00	(133.12)
	Net increase/(decrease) in cash and cash equivalents (A+B+C)	(93.08)	192.30	47.31
	Cash and cash equivalents at the beginning of the year Effect of exchange differences on translation of foreign currency cash and cash equivalents Cash and cash equivalents at the end of theyear	257.26 (7.82)	208.90 0.70	208.90 1.05
		156.36	401.90	257.26

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 financial results for the quarter and half year ended September 30, 2022

• 4 The unaudited standalone results for the quarter and half year ended September 30, 2022 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held on November 7, 2022 and November 8, 2022 respectively. 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.

• 5 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

• 6 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"

• 7 Exceptional item for the year ended March 31, 2022 pertains to amount recorded towards impairment of investment in wholly owned subsidiaries.

• 8 Other income for the quarter and half year ended September 30, 2022 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.

• 9 Other Comprehensive Income for the year ended March 31, 2022, includes fair value gain of Rs.195.49 million in respect of the Tech4billion Media Private Limited ("Chingari"), a Company involved in providing end users a video sharing social media platform, in accordance with the requirements of Ind AS 109 Financial Instruments.

• 10 The Company had declared a dividend of Rs. 1.50 per share amounting to Rs. 158.40 Million towards final dividend for the year ended March 31, 2022, as approved by the shareholders in the Annual General Meeting held on September 22, 2022. The Company paid off the dividend in the month of October 2022.

• 11 Other expenses include marketing spend amounting to Rs. 89.82 Million, Rs.84.2 Million, Rs.42.02 Million, Rs. 174.02 Million, Rs.67.29 Million and Rs.202.56 Million for the quarter ended September 30, 2022, quarter ended June 30, 2022, quarter ended September 30, 2021, half year ended September 30, 2022, half year ended September 30, 2021 and year ended March 31, 2022 respectively, including towards various gaming products launched/to be launched by the Company.

• 12 With effect from the quarter ended December 2021, the Company has reported its results in Indian Rupees “Millions”. Untill quarter ended September 30, 2021, the Company had reported its results in Indian Rupees “Lakhs”. Pursuant to such change, all comparative numbers have been presented in Indian Rupees millions and have been rounded off to two decimal places.

For and on behalf of Board of Directors of Onmobile Global Limited

==> picture [79 x 47] intentionally omitted <==

François-Charles Sirois Executive Chairman

Place: Palm Beach, Florida Date: November 8, 2022

Chartered Accountants

Embassy Golf Links Business Park, Telephone + 91 80 4682 3000 Pebble Beach. B Block, 3•• Floor, No. 1312, Fax � 91 80 4682 3999 Off Intermediate Ring Road Bengaluru-560 071 India

BS R & Co. LLP

Limited Review Report on unaudited standalone financial results of Onmobile Global Limited for the quarter ended 30 September 2022 and year-to-date results for the period from 1 April 2022 to 30 September 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

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 ("the Company") for the quarter ended 30 September 2022 and year-to-date results for the period from 1 April 2022 to 30 September 2022 ("the Statement").

2. This Statement, which is the responsibility of the Company's management and approved by the 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. 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

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 applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For BS R & Co. LLP Chartered Accountants Firm's Registration No.: 101248�/W-100022 2-[�] Praveen Kumar Jain Partner

Bengaluru

08 November 2022

Membership No.: 079893 UDIN:22079893BCOIHl2465

Reg11tered Office 141h Floor Central B w, d N Center, 'M!stem e.-."�/"h �-5 ,g way rogaon (East), Mumbai . ◄00063 onGoh C IMng Nosco IT Part< 4 Nesco

ation[No BA6 t 223) convened into B S R & Co ] LLP (a LBS R & Co (a pimited Lieb1l1ty Partnership with LLP[a] rtners[h] ip fi[rm ] ""[1h R] ��g[1] ��tration No AAB-8181) w,lh elfect from October 14, 2013

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 consolidated financial results for the quarter and half year ended September 30, 2022

		Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share	Amount in Rs Millions except dataper share
		Quarter ended			Halfyear ended		Year Ended
**Sl. No **	Particulars	September 30, 2022 (Unaudited)	June 30, 2022 (Unaudited)	September 30, 2021 (Unaudited)	September 30, 2022 (Unaudited)	September 30, 2021 (Unaudited)	March 31, 2022 (Audited)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16	Revenue from Operations Mobile entertainment services Other income (net) Total Income Expenses (a) Content fee and royalty (b) Contest expenses (c) Cost of software licenses and others (d) Employee benefits expenses (e) Finance costs (f) Depreciation and amortisation expenses (g) Other expenses (Refer note 11) Total expenses Profit before share of profit/(loss) of associates, exceptional items and tax (1 - 2) Share of profit/(loss) of associates Profit before tax and exceptional items (3+4) Exceptional items - net (refer note 7 and 8) Profit before tax (5+6) Tax expense (a) Current tax (b) Minimum Alternate Tax (c) Earlier year provision (d) Deferred tax Total tax Profit for the period / year (7-8) Other comprehensive income A. (i) Items that will not be reclassified to profit or loss (Refer Note 9) (ii) Income tax relating to items that will not be reclassified to profit or loss B. (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss Other comprehensive income Total comprehensive income for the period/ year (9+10) Profit attributable to: Owners of the Company Non-controlling interests Total comprehensive income attributable to: Owners of the Company Non-controlling interests Paid up equity share capital (Face value of Rs 10/- each) Other equity Earnings per share (of Rs. 10 each) (not annualised except for year ended March 31, 2022) (a) Basic (b) Diluted See accompanyingnotes to the financial results	1,309.52 41.23	1,351.28 6.04	1,304.30 6.90	2,660.80 47.27	2,592.00 42.90	5,195.44 72.12
		1,350.75	1,357.32	1,311.20	2,708.07	2,634.90	5,267.56
		626.52 16.13 37.61 364.47 1.35 25.41 262.44	643.28 17.90 37.83 320.67 1.98 24.77 255.43	643.30 8.50 32.90 325.90 1.90 27.50 203.90	1,269.80 34.03 75.44 685.14 3.33 50.18 517.87	1,279.80 19.21 58.02 626.01 3.41 54.00 376.41	2,530.17 48.72 112.03 1,230.64 7.48 103.72 821.54
		1,333.93	1,301.86	1,243.90	2,635.79	2,416.86	4,854.30
		16.82	55.46	67.30	72.28	218.04	413.26
		0.24	-	1.60	0.24	1.04	1.04
		17.06	55.46	68.90	72.52	219.08	414.30
		-	-	(16.00)	-	57.22	57.22
		17.06 15.16 (2.22) - (2.08)	55.46 11.05 - - 3.20	52.90 21.10 - - 5.20	72.52 26.21 (2.22) - 1.12	276.30 72.20 - - 13.40	471.52 132.47 - (12.90) 27.39
		10.86	14.25	26.30	25.11	85.60	146.96
		6.20 (4.04) 1.17 (110.30) (0.22)	41.21 4.18 (1.22) 49.31 0.48	26.60 (4.50) 1.30 (38.50) -	47.41 0.14 (0.05) (60.99) 0.26	190.70 (0.70) 0.20 (31.40) -	324.56 197.56 (46.14) (118.96) (0.18)
		(113.39)	52.75	(41.70)	(60.64)	(31.90)	32.28
		(107.19)	93.96	(15.10)	(13.23)	158.80	356.84
		6.08 0.12	41.21 -	26.60 -	47.29 0.12	190.70 -	324.56 -
		6.20	41.21	26.60	47.41	190.70	324.56
		(113.39) -	52.75 -	(41.70) -	(60.64) -	(31.90) -	32.28 -
		(113.39)	52.75	(41.70)	(60.64)	(31.90)	32.28
		1,059.02	1,056.42	1,053.20	1,059.02	1,053.20	1,056.02 5,471.86
		0.06 0.06	0.39 0.38	0.25 0.25	0.45 0.44	1.82 1.79	3.08 3.05

Registered office: Tower 1, 94/1C & 94/2, Veerasandra Village, Electronic City Phase-1, Bengaluru- 560100 CIN: L64202KA2000PLC027860 Website: www.onmobile.com

OnMobile Global Limited

Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2022

Notes:

1 Consolidated Balance Sheet

otes: Consolidated Balance Sheet
	Amount in Rs. Millions
Particulars	As at September 30, 2022 (Unaudited)	As at March 31, 2022 (Audited)
ASSETS Non-Current Assets Property, plant and equipment Capital work in progress Goodwill Other Intangible assets Intangible asset under development Right to use assets Financial Assets (i) Investments (ii) Loans Income tax assets (net) Deferred tax assets (net) Other non-current assets Current Assets Financial Assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Derivative asset (Refer note 9) (vii) Other financial assets Other current assets TOTAL - ASSETS EQUITY AND LIABILITIES Equity Equity share capital Other equity Non-Current Liabilities Financial liabilities (i) Lease liabilities Provisions Deferred tax liabilities (net) Current Liabilities Financial liabilities Lease liabilities Trade payables Other financial liabilities Current tax liabilities (net) Provisions Other current liabilities TOTAL - EQUITY AND LIABILITIES -Total outstanding dues of creditors other than micro and small enterprises -Total outstanding dues of micro and small enterprises	177.18 30.03 595.08 129.72 1,039.93 56.45 654.90 56.98 1,452.31 593.29 531.65	148.04 41.52 656.58 145.78 669.80 65.48 654.65 52.40 1,470.92 492.86 653.17
	5,317.52	5,051.20
	181.63 1,445.89 634.90 313.72 5.66 - 643.31 563.30	300.23 1,606.68 727.83 324.00 8.76 4.60 565.92 519.21
	3,788.41	4,057.23
	9,105.93	9,108.43
	1,059.03 5,340.52	1,056.02 5,471.86
	6,399.55	6,527.88
	47.90 129.20 9.51	54.83 131.29 9.04
	186.61	195.16
	14.07 - 1,753.06 264.58 225.11 33.84 229.11	14.67 - 1,710.29 116.27 254.08 29.77 260.31
	2,519.77	2,385.39
	9,105.93	9,108.43

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 consolidated financial results for the quarter and half year ended September 30, 2022

2 Consolidated Cash Flow Statements

Consolidated Cash Flow Statements
	Amount in Rs. Millions
Particulars	Six month ended	Six month ended	Year ended
	September 30, 2022	September 30, 2021	March 31, 2022
	(Unaudited)	(Unaudited)	(Audited)
A. CASH FLOW FROM OPERATING ACTIVITIES Profit for the year Adjustments to reconcile profit for the year to net cash flows: Income tax expense recognised in the consolidated statement of profit and loss Share of (loss) / profit from associate Depreciation and amortisation expenses Exceptional items Unrealised foreign exchange (gain) / loss Bad debts written off Gain on disposal of Property plant and equipment (net) Gain on sale/ redemption of investment (net) Provision for doubtful trade receivables (net) Share based payments Finance costs Interest income Operating profit before working capital changes Changes in operating assets and liabilities: Trade receivables Other assets Trade payable, provisions and other liabilities Cash (used in)/ generated from operations Direct taxes paid (net of refunds) Net cash (used in)/generated from operating activities B. CASH FLOW FROM INVESTING ACTIVITIES Purchase of tangible and intangible assets Proceeds from sale of tangible and intangible assets Sale, redemption/(purchase) of short term investment (net) Sale, redemption / (purchase) of long term investments (net) Changes in other bank balances Consideration paid towards business combination, net of cash acquired Interest received Net cash (used in)/generated from investing activities C. CASH FLOW FROM FINANCING ACTIVITIES Finance cost Repayment of lease liabilities Proceeds from exercise of ESOPs (including premium) Dividend paid on equity shares including tax thereon Net cash (used in)/generated from financing activities Net (decrease) / increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Effect of exchange differences on translation of foreign currency cash and cash equivalents	47.41 25.11 (0.24) 50.18 - 125.85 - (0.60) (6.77) (9.94) 32.85 3.33 (24.06)	190.70 85.60 (1.00) 54.00 (57.20) (24.50) - (0.40) (6.00) 20.30 6.30 3.40 (26.90)	324.56 146.96 (1.04) 103.73 (57.23) (87.89) 92.40 (2.07) (10.17) (64.84) 26.42 7.49 (36.62)
	195.71	53.60	117.14
	243.12 183.56 (23.75) 15.58	244.30 (140.90) (381.60) (89.00)	441.70 (81.09) (381.23) (180.47)
	175.39	(611.50)	(642.79)
	418.51 (236.52)	(367.20) (58.90)	(201.09) (41.07)
	181.99 (419.87) 0.61 124.48 - 10.29 - 4.91	(426.10) (178.50) 0.60 579.70 (89.90) 129.60 (19.20) 29.40	(242.16) (549.84) 14.68 1,051.11 (425.93) 42.01 (19.24) 56.69
	(279.58)	451.70	169.48
	(3.32) (9.03) 10.85 -	(3.40) (7.00) 30.30 -	(7.49) (7.23) 58.14 (157.93)
	(1.50)	19.90	(114.51)
	(99.09) 727.83 6.16	45.50 918.40 1.10	(187.19) 918.44 (3.42)
	634.90	965.00	727.83

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 consolidated financial results for the quarter and half year ended September 30, 2022

• 3 (a) The unaudited consolidated results for the quarter ended September 30, 2022 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held on November 7, 2022 and November 8, 2022 respectively. 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.

• (b) Key numbers of Standalone Financial Results of the Company for the quarter and half-year ended September 30, 2022 are as under:

	Amount in Rs. Millions	Amount in Rs. Millions	Amount in Rs. Millions	Amount in Rs. Millions	Amount in Rs. Millions	Amount in Rs. Millions
Particulars	Quarter ended			Half Year Ended		Year Ended
	September 30, 2022 (Unaudited)	June 30, 2022 (Unaudited)	September 30, 2021 (Unaudited)	September 30, 2022 (Unaudited)	September 30, 2021 (Unaudited)	March 31, 2022 (Audited)
Total Income Profit before Tax Net Profit after Tax	584.96 25.79 21.27	559.90 7.46 3.66	466.60 16.50 6.60	1,144.86 33.25 24.93	993.90 153.00 98.30	2,176.30 267.07 156.35

Standalone results of OnMobile Global limited are available in investors section in www.onmobile.com and also with the stock exchanges where it is listed.

• 4 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.

• 5 The above results include consolidated results of the Company's subsidiaries : OnMobile Singapore Pte Limited, OnMobile Europe B.V., Appland AB, OnMobile S.A. (erstwhile Telisma SA, liquidated w.e.f December 29, 2021)., OnMobile USA LLC, Servicios De Telefonia OnMobile SA DE CV, OnMobile Global SA., OnMobile Brasil Sistemas de Valor Agregado Para Comunicacoes Moveis Ltda, OnMobile DE Venezuela C.A, OnMobile Global for Telecommunication Services, OnMobile Senegal SARL, OnMobile Uruguay S.A., OnMobile Bangladesh Private Limited, OnMobile Mali SARL, OnMobile Kenya Telecom Limited, OnMobile Telecom Limited , OnMobile Global Spain S.L.U, OnMobile Costa Rica OBCR SA., OnMobile Uganda Limited, OnMobile Zambia Telecom Limited, OnMobile Madagascar Telecom Limited, OnMobile Rwanda Telecom Limited, OnMobile Nigeria Telecom Limited, OnMobile Tanzania Telecom Limited, OnMobile Ghana Telecom Limited, OnMobile Telecom (SL) Limited, OnMobile Global Solutions Canada Limited, OnMobile Global Italy S.R.L, Onmobile Turkey Telekomunikasyon Sistemleri Limited Şirketi, Onmobile Telecom Burkina Faso, SARL, OnMobile Portugal SGPS Unipessoal LDA (Zona Franca Da Madeira), ONMO Inc (erstwhile OnMobile Live Inc.), 2dayUK Limited., OnMobile Global Limited Columbia S.A.S.(Liquidated w.e.f. July 7, 2022), OnMobile Global South Africa (PTY) LTD, OnMobile South Africa Technologies (PTY) Limited (Incorporated on November 29, 2021), OnMobile Bangladesh Technologies Private Limited, OnMobile Latam Holding (Liquidated w.e.f. March 17, 2022), S.L, 9447-9029 Quebec Inc. (formerly known as Les Productions Back to the Game Inc.) and Technologies Rob0 Inc and associate Mobile Voice Konnect Private Limited.

• 6 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”.

• 7 During the year ended March 31, 2021, the Company had renegotiated and amended the payment terms and parameters of the earnout payable towards acquisition of Appland AB ("Appland"). Based on the amended agreeement, which was valid till June 30, 2021, the earn out liability had been capped at Rs. 73.22 million (USD 1 million). During the year ended March 31, 2022, since Appland was not able to achieve the amended parameters and upon expiry of the term of the amended agreement, the management had concluded that no further payment would be made against the earnout liability and accordingly, the amount of Rs. 73.22 million had been reversed and disclosed as an exceptional item.

• 8 On May 22, 2020, OnMobile Global Solutions Canada Ltd. (“OnMobile Canada”), one of the subsidiaries of the Company, had acquired a 25% voting interest in Technologies Rob0 Inc. ("Rob0"), a Company that offers AI-powered visual retention analytics for video game developers for a total consideration of CAD 1 million (Rs. 54.26 million). The Group had accounted for this investment as an equity accounted associate. Further, the Group had done the fair valuation of the option as at March 31, 2021 and recognised an amount of Rs 18.47 million as Derivative asset as a current financial asset.

• During the year ended March 31, 2022 OnMobile Canada had acquired 100% equity interest in 9447-9029 Quebec Inc. (formerly known as Les Productions Back to the Game Inc.) (“Les Productions”), the parent company of Rob0, vide Share Purchase Agreement (‘SPA’) dated August 1, 2021 for a total consideration of CAD 2 million (Rs. 119.20 million). The said transaction falls under the purview of Ind AS 103 Business Combination, the relevant accounting of which had been included in these results. On account of this transaction, OnMobile Canada and ultimately, OnMobile Global Limited had gained control over both Les Productions and Rob0. Rob0 acquisition was a step up acquisition and accordingly, as at August 1, 2021, the investment held in associate (Rob0) had been fair valued. Further, the Company had not exercised the option to acquire the balance 25% of Rob0 and the derivative asset had been written off. The net impact of this transaction amounting to Rs.16 million has been shown as exceptional item in profit and loss account.

• 9 Other Comprehensive Income for the year ended March 31, 2022, includes fair value gain of Rs.195.49 million in respect of the Tech4billion Media Private Limited ("Chingari"), a Company involved in providing end users a video sharing social media platform, in accordance with the requirements of Ind AS 109 Financial Instruments.

• 10 The Company had declared a dividend of Rs. 1.50 per share amounting to Rs. 158.40 million towards final dividend for the year ended March 31, 2022, as approved by the shareholders in the Annual General Meeting held on September 22, 2022. The Company paid off the dividend in the month of October 2022.

• 11 Other expenses include marketing spend amounting to Rs. 164.96 Million, Rs.151.85 Million, Rs.80.32 Million, Rs. 316.81 Million, Rs.160.02 Million and Rs.398.17 Million for the quarter ended September 30, 2022, quarter ended June 30, 2022, quarter ended September 30, 2021, half year ended September 30, 2022, half year ended September 30, 2021 and year ended March 31, 2022 respectively, including towards various gaming products launched/to be launched by the Company.

• 12 With effect from the quarter ended December 2021, the Company has reported its results in Indian Rupees “Millions”. Untill quarter ended September 30, 2021, the Company had reported its results in Indian Rupees “Lakhs”. Pursuant to such change, all comparative numbers have been presented in Indian Rupees millions and have been rounded off to two decimal places.

For and on behalf of Board of Directors of Onmobile Global Limited

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François-Charles Sirois Executive Chairman

Place: Palm Beach, Florida Date: November 8, 2022

Chartered Accountants

Embassy Golf Links Business Park Telephone • 91 80 -1682 3000 Pebble Beach, B Block, 3•• Floor, No. 1312, Fex •918046823999 01'1 Intermediate Ring Road, Bengaluru-560 071 India

8 SR & Co. LLP

Limited Review Report on unaudited consolidated financial results of Onmobile Global Limited for the quarter ended 30 September 2022 and year­ to-date results for the period from 1 April 2022 to 30 September 2022 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 consolidated financial results of Onmobile Global Limited ("the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its associates for the quarter ended 30 September 2022 and year-to-date results for the period from 1 April 2022 to 30 September 2022 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's 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 Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

4. We conducted our review of the Statement in accordance with the Standard on Review Engagements 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 (SRE) 2410 #Review of Interim Financial lnfonnation Perfonned by the Independent Auditor of the in an audit. Accordingly, we do not express an audit opinion.

5. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

6. The Statement includes the results of the following entities:

7. a. OnMobile Singapore Pte Limited

8. b. OnMobile Europe B.V.

9. c. Appland AB

10. d. OnMobile Global SA

11. e OnMobile USA LLC

12. f. Servicios De Telefonia OnMobile SA DE CV

13. g. OnMobi[le Brasil Sistemas de Valor Agregado Para Comunlcacoes Movc,s ] ltda

14. h. OnMobile DE Venezuela C �

15. i. OnMobile Global for Telecommunication Services

16. j. OnMobile Senegal SARL

17. k. OnMobile Uruguay SA

18. 1, OnMobile Bangladesh Private Limited

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BS R & Co. LLP

r. OnMobile Uganda Limited q. OnMobile Costa Rica OBCR SA. p. OnMobile Global Spain S.L.U o. OnMobile Telecom Limited n. OnMobile Kenya Telecom Limited m. OnMobile Mali SARL

s OnMobile Zambia Telecom Limited

t. OnMobile Madagascar Telecom Limited

u. OnMobile Rwanda Telecom Limited

v. OnMobile Nigeria Telecom Limited

w. OnMobile Tanzania Telecom Limited

x. OnMobile Ghana Telecom Limited

• y. OnMobile Telecom (SL} Limited

z. OnMobile Global Solutions Canada Limited

aa. OnMobile Global Italy S.R.L

bb. Onmobile Turkey Telekomunikasyon Sistemleri Limited $irketi

cc. Onmobile Telecom Burkina Faso, SARL

dd. OnMobile Portugal SGPS Unipessoal LOA (Zona Franca Da Madeira)

ee. ONMO Inc (formerly known as OnMobile Live Inc.) kk. 9447-9029 Quebec Inc. (formerly known as Les Productions Back to the Game Inc.) ff. 2dayUK Limited. gg. OnMobile Global Limited Columbia S.A.S. hh. OnMobile Global South Africa (PTY) LTD ii. OnMobile South Africa Technologies (PTY} Limited jj. OnMobile Bangladesh Technologies Private Limited II. Technologies Rob0 Inc

mm. Mobile Voice Konnect Private Limited.

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BS R & Co. LLP

1. Based on our review conducted and procedures performed as stated in paragraph 3 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 contains any material misstatement.

For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022

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Bengaluru

08 November 2022

Praveen Kumar Jain Partner Membership No.: 079893 UDIN:22079893BCOILJ5718