Mobikwik reports loss in September quarter; revenue grows 43%
One Mobikwik Systems, which runs fintech application Mobikwik, has reported a comprehensive loss of Rs 3.3 crore in the September quarter of the current financial year, swinging into losses after reporting a net profit of Rs 5.9 crore a year ago.
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Its operational revenue for the September quarter was up 43% to Rs 289 crore compared to Rs 201 crore a year ago during this period.
This is the first quarterly financial result announcement by the Gurugram-based fintech after it went public on December 18, 2024. The company listed on the bourses at Rs 440, up 58% compared to the IPO price band of Rs 279.
Mobikwik is trading at Rs 567 on the BSE as of 12.30 PM on January 7.
The company saw its expenses shoot up in the September quarter across categories. Payment processing charges, which need to be paid to its banking partners for settling transactions between bank accounts, jumped almost three times to Rs 137 crore compared to Rs 42 crore a year ago. Its employee benefit expenses went up to Rs 42 crore from Rs 25 crore a year ago.
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