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Net Dragon Websoft's profit for Q1 surges over six folds

May. 28, 2012 (China Knowledge) - Net Dragon Websoft Inc<0777>, principally engaged in online game development and mobile Internet business, has posted RMB 55.8 million-net profit attributable to shareholders for Q1 2012, reflecting a sequential jump of over six folds and a YoY increase of 61.1%.

Basic earnings per share for the reporting period stood at 10.88 RMB cents.  

In the three months ended Mar. 31, 2012, the Hong Kong-listed firm's revenue grew 9.1% from a quarter earlier and increased 51.2% YoY to a record RMB 237 million, of which RMB 191.6 million was derived from online games, a decrease of 0.5% QoQ and an increase of 27.2% YoY.

Revenue from mobile internet amounted to RMB 45.4 million in the first quarter, an increase of 84.1% QoQ and an increase of more than six folds YoY.

Gross profit for the first quarter of 2012 grew 46.8% from a year earlier to RMB 208.7 million.

Average concurrent users for online games were 297,000 in the three-month period, reflecting a decrease of 4.2% QoQ but an increase of 20.7% YoY.

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