Spice Mobiles register strong quarterly and annual results

BSE – 517214

Unaudited Results for the nine months/quarter ended 31st December 2007

* Spice Mobiles has changed its Financial Year from Apr-Mar to Jan-Dec. The results released for the FY 07 Year-Ended December 31, 2007 (Nine Month period)
* Gross Revenue for FY 07 is Rs. 28,522 Lakhs – a growth of 134% YoY
* Revenue for the Quarter Oct-Dec FY07 is Rs. 12,098 Lakhs vs. Rs. 5,743 Lakhs in Oct-DecFY06
* Annual PBT for FY 07 is Rs. 1908 Lakhs vs. a PBT of Rs. (-) 738 Lakhs in FY06 / Quarterly PBT for Oct-Dec FY07 is Rs. 921 Lakhs vs. PBT of Rs. (-)66 Lakhs in Oct-DecFY06
* Annual PAT for FY 07 is Rs. 1491 Lakhs vs. a Net Loss of Rs. 889 Lakhs for FY06 / Quarterly PAT stands at Rs. 669 Lakhs vs. a Net Loss for the corresponding quarter FY06 of Rs. 67 Lakhs
* EPS improved significantly to 0.90 from a negative 0.18 for the Quarter / Annual EPS improved from (-)2.38 to + 2.00. Face value of each Spice Mobiles shares is Rs.3/- per share.
* Spice Mobiles was awarded the Golden Peacock Innovative Product/Service Award for the Spice DUAL SIM Phone
* Spice Mobiles continues to focus on Innovation and Technology and plans to launch several new products including the World’s First DVD Media Phone
* Spice Mobiles will launch more World-First Products at the 3GSM Congress at Barcelona scheduled from 11th – 14th February,2008.

Spice Mobiles Limited, one of the leading Mobile Handset company in India, announced a phenomenal growth in its Revenue and Profits for the Quarter and Financial Year (9 months) ending 31st December 2007. The quarterly revenue for the period of October-December Financial Year 2007 has witnessed an astounding growth of 111% , with PBT margins being enhanced by over 15 times and PAT margins improving 11 times.

Commenting on the results Mr. Kunal Ahooja, Chief Executive Officer of the Company said:

Spice Mobiles has witnessed phenomenal sales growth and a very strong profitability position growing from strength to strength. Spice Mobiles has been recognized for its technological innovations and we are well poised to take the next big leap in terms of achieving new ground on product innovation and customer service excellence. This will have a strong influence on our future productivity and financial performance.

Recently, Spice Mobiles was awarded the Golden Peacock Award for product innovation for the year 2007 which bears testimony to the fact that the company is focusing on creating differentiated products for the multifarious needs of customers. The company will continue to scale up performance, revenue base, profitability while increasing market share through aggressive marketing and distribution coverage. We at Spice Mobiles are very confident that the company will achieve a significant market share and become a major mobile handset brand in one of the largest & fastest growing industry verticals in the world.
About Spice Mobiles Limited

Spice Mobiles Ltd. is part of Spice Corp, a US$ 2 billion multi-faceted group with an exclusive footprint in the mobile eco-system in India. Innovation is the key to success at Spice, as it has been with its new age technology and products- state of the art mobile phones. Spice Mobile phones made its entry two years ago in 2005 in the Indian market, targeting the entry-level handset segment.

For further info-

Sudeep Sengupta, Spice at +91 98- 7300 4259 Nidhi M. Verma, Linopnion – 98 114 25115