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Kogan Mobile climbs toward AU$3.5m quarterly profit

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Kogan Mobile has said it is "one of the fastest-growing telcos in Australian history", with its gross profit climbing toward the AU$3.5 million mark as the provider continues adding customers.

The company had made AU$3.6 million revenue from Kogan Mobile[1] throughout the entirety of FY17.

Providing a cash update on Monday morning, Australian online retailer Kogan.com reported AU$108 million in total receipts from customers in the quarter to March 31, with the company saying it has seen revenue growth of 46 percent year on year. In the nine months to March 31, it made AU$313 million in receipts from customers.

Active Kogan.com customers numbered 1.3 million as of the end of March, although the company did not reveal how many telco customers it now has.

Kogan.com added that as of the end of the period, it had cash of AU$19 million, inventories of AU$55 million, and trade and payables of AU$31 million. The decrease of AU$20.6 million in the latter category since last quarter was due to the normal drop-off following the peak Christmas period, the company explained.

"Kogan.com commenced the new calendar year with a strong quarter of continued growth as we execute our long-term strategy," Kogan.com founder and CEO Ruslan Kogan said in a statement to the Australian Securities Exchange (ASX).

"The business is poised to continue its growth trajectory into the seasonally strong end-of-financial-year quarter."

Vodafone Australia had at the end of 2015 announced reaching an agreement to wholesale its 3G mobile network[2] to electronics manufacturer and retailer Kogan.com, adding 4G services[3] to this in 2016.

Kogan.com then announced in June last year that it would also be launching NBN

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