MobiKwik posts Rs 291 Cr revenue and Rs 3.5 Cr loss in Q2 FY25

Fintech platform MobiKwik reported its quarterly results for the second quarter of the ongoing fiscal year (Q2 FY25) on the stock exchange today, reflecting a 43% quarter-on-quarter growth.

MobiKwik’s revenue from operations increased to Rs 290.6 crore in Q2FY25 from Rs 203 crore in Q2 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show.

However, Mobikwik's earnings were reduced by 15% in Q2 FY25, compared to Rs 342 crore in Q1 FY25.

Income from the commission on recharge, processing, and interest income on servicing loans, payment gateways, and technologies platforms were the primary sources of revenue for MobiKwik in FY24. The company has not provided the income breakup in its quarterly report.

According to the regulatory filings, MobiKwik's registered user base has grown 13.6% YoY to 167 million with 4.4 million merchants. The company’s payment GMV has also been increased 3.67X year-on-year to Rs 282.8 billion.

On the cost side, expenditure on the payment gateway was the largest cost center forming 47% of the overall cost which stood at Rs 136 crore in Q2 FY25. The cost of employee benefits and facilitation fees were recorded at 43.5 crore and Rs 17.5 crore respectively.

Financial guarantee, legal, advertising, finance, and other overheads took its total expenditure up by 47.9% to Rs 287 crore in Q2FY25 from Rs 194 crore in Q2FY24. For instance, the company posted a net profit of Rs 14 crore for the previous fiscal (FY24).

In the end, the company achieved a positive EBITDA of Rs 3.5 crore for Q2 FY25, despite posting a net loss of Rs 3.5 crore for the quarter. This represents a shift from the Rs 5.2 crore profit reported in Q2FY24.

Mobikwik made its debut on the stock exchange last month with an impressive 59% premium on its issue price on the first day of its listing. The company is currently trading at Rs 601.9 (as of 13.20) with a total market capitalization of Rs 4,676 crore or (approximately $556 million).