Mobile consumer service drives Xurpas net income in H1
MANILA, Philippines — Consumer technology firm Xurpas Incorporated grew its net income by 10% in the first half year-on-year to P115.61 million ($2.50 million), driven by growth in its core mobile consumer service business.
Excluding one-time expenses related to acquisitions, its core net income rose by 17% year-on-year to P122.87 million ($2.66 million), Xurpas said in a statement on Friday, August 14.
"Exciting times are ahead for Xurpas," Xurpas chairman and CEO Nix Nolledo said.
"We have been very busy growing our core mobile consumer business, while seeking promising opportunities to enhance both product offerings and reach in Southeast Asia," Nolledo added.
Xurpas' total revenue for the first 6 months leaped by 64.5% year-on-year to P311.99 million ($6.76 million).
Its top-line growth surged from the 52% year-on-year expansion in the first quarter.
The technology firm had been buying stakes in start-ups such as US-based Quick.ly, Incorporated, which marked its first investment outside Asia.
It also has stakes in PT Sembilan Digital Investama, an IT firm that owns Indonesian mobile content company Ninelives, and in Singapore-based multiplayer games platform MatchMe Private Limited. – Rappler.com