One Mobikwik posts loss of ₹55 crore in Q3

Fintech firm One Mobikwik on Tuesday reported a consolidated loss of ₹55.28 crore in the third quarter ended December 2024, mainly due to an increase in payment gateway costs.

One Mobikwik had posted a profit of ₹5.27 crore in the same period a year ago, according to the company's regulatory filing.

The payment gateway cost of One Mobikwik jumped about three-fold to ₹143.7 crore during the reporting period from ₹50.83 crore in the December 2023 quarter.

The consolidated revenue from operations increased by about 18% to ₹269.47 crore in the latest third quarter from ₹228.93 crore in the year-ago period.

One Mobikwik said its payments gross merchandise value (GMV) during the quarter grew manifold to ₹29,400 crore from ₹9,600 crore a year ago and its payments revenue more than doubled to ₹196.5 crore from ₹73.9 crore on a year-on-year basis.

"MobiKwik continues to make significant investments in product innovation and development, reflected in our strong growth in the payments business. We continue to see healthy margins across businesses, supporting overall growth. With a successful IPO behind us and access to additional capital, we are confident of driving the business towards long-term value creation and profitable growth," said Upasana Taku, Executive Director, Co-founder and CFO, One MobiKwik Systems.

The registered user base grew by about 14% to 17.2 crore in December 2024 quarter from 15.1 crore in the same period a year ago.

One Mobikwik reported a 16.2% YoY growth in its merchant base to 45.1 lakh from 38.8 lakh a year ago.