MoneyOnMobile Announces Increase in Monthly Revenue

Increase attributed to surge in consumer demand and available line of credit

Wednesday, May 31, 2017 — MoneyOnMobile, Inc. (MOMT) today reported recent monthly operational results, including this highlight:

  • 3.9% compound monthly growth rate in revenue from December 2016 to April 2017

“We believe our increase in revenue speaks to two factors: strong demand for cash to digital services and our line of credit facility put in place in December 2016. The line of credit allowed us to expand our daily limits to increase the processing volume of domestic remittances, as seen in our strong monthly growth for this revenue category. Early returns from May demonstrate that this trend continues.  (See Chart B).” said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc.

“We saw an increase in monthly revenue from December to January as consumer demand and market conditions stabilized from the impact of demonetization. However, the business experienced a short-term impact in volume from mobile top-up sales due to mobile operators building market share by, we believe, temporarily providing heavily-discounted airtime minutes, data and video.  As a result, the mobile and TV top-up revenue categories are down a collective 28% and will negatively impact our overall Q4 revenue. We have seen mobile top-up and DTH revenue stabilize in May. We are seeing growth from emerging revenue lines, such as the MOM ATM (Chart B - All Other).” said Ranjeet Oak, Managing Director of MoneyOnMobile’s India subsidiary.

Total Monthly Revenue since December 2016 - (Chart A)

(Chart A)

December 2016

January 2017

February 2017

March 2017

April 2017

Monthly Revenue (₹)

₹ 16.9M

₹ 18.6M

₹ 15.9M

₹ 18.6M

₹ 19.7M

Monthly Revenue ($)






Change in Rupee (₹) over Previous Month






Category Level Monthly Change in Revenue - (Chart B)

Figures below represent the change in revenue associated with specific category of product lines from the previous month to current month.

(Chart B)

January 2017

February 2017

March 2017

April 2017

Domestic remittance





Mobile/TV Top Up





All Other





December 2016 was chosen as the starting period for the above monthly data because it represents the last month of demonetization and January 2017 the first month post-demonization.