Today, the fintech platform MobiKwik released its quarterly results on the stock exchange for the second quarter of the current fiscal year (Q2 FY25), showing a 43% increase over the previous quarter.
According to MobiKwik's consolidated financial documents obtained from the National Stock Exchange (NSE), the company's operating revenue climbed from Rs 203 crore in Q2 FY24 to Rs 290.6 crore in Q2 FY25. However, compared to Q1 FY25's earnings of Rs 342 crore, Mobikwik's earnings in Q2 FY25 decreased by 15%.
In FY24, MobiKwik's main revenue streams were commissions from recharges, processing fees, and interest income from loan servicing, payment gateways, and technology platforms. The income breakdown is not included in the company's quarterly report.
MobiKwik's registered user base has increased 13.6% year over year to 167 million, with 4.4 million merchants, according to the regulatory filings. Additionally, the company's payment GMV climbed to Rs 282.8 billion, a 3.67X year-over-year rise.
The greatest cost center, accounting for 47% of the total cost, which was Rs 136 crore in Q2 of FY25, was the payment gateway. Facilitation fees and staff benefits were estimated to cost Rs 17.5 crore and 43.5 crore, respectively.
Overheads for advertising, finance, legal, and financial guarantees increased the company's overall spending by 47.9% from Rs 194 crore in Q2FY24 to Rs 287 crore in Q2FY25. For example, in the previous fiscal year (FY24), the company reported a net profit of Rs 14 crore.
Despite reporting a net loss of Rs 3.5 crore for the quarter, the company ultimately recorded a positive EBITDA of Rs 3.5 crore for Q2FY25. Compared to the Rs 5.2 crore profit recorded in Q2FY24, this indicates a change.
Last month, Mobikwik debuted on the stock exchange, opening with a remarkable 59% premium above its issue price on the first day of trading. As of 13.20, the company's market capitalization is Rs 4,676 crore, or around $556 million, and its current price is Rs 601.9.
