One MobiKwik Systems Q1 Results: Co posts Rs 7.6-cr profit vs Rs 419 cr loss YoY
Fintech firm MobiKwik reported a consolidated profit of Rs 7.6 crore for the April-June quarter. This marks a significant turnaround from a net loss of Rs 419.2 crore in the prior year. Revenue from operations saw a modest increase of 3.7 percent to Rs 281.48 crore. The company highlighted three consecutive profitable quarters, reinforcing its business model's embedded profitability.
In MobiKwik's first quarter results, the company reported a net profit of Rs 7.6 crore, a significant turnaround from a loss of Rs 41 crore in the same quarter last year. The strong earnings lifted the stock by up to 9% to Rs 223 on the BSE. The company's revenue from operations increased by 4% to Rs 281 crore, compared to Rs 271 crore in the previous quarter.
MobiKwik's EBITDA turned positive at Rs 8 crore, while gross margin improved to 37% from 28% a year ago. The company's payments business continued to grow, supported by improving unit economics and high operating leverage, becoming the No. 1 PPI wallet in India and among the two fastest-growing UPI apps in the country's UPI ecosystem.
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