MobiKwik share price declines nearly 3% following Q2 results

In the early trade, the stock declined as much as 2.71% to ₹598.35 per share on the National Stock Exchange (NSE). At 11:16 am, it was down 2.08% to ₹603.25 apiece.

The company's market capitalisation stands at ₹4,681.38 crore.

MobiKwik Q2 results: Firm reports net loss of ₹3.6 crore

MobiKwik reported a net loss of ₹3.59 crore during the second quarter that ended September 31, 2024, as against ₹5.22 crore consolidated profit recorded in the same quarter a year ago.

During the reporting quarter, revenue from operations surged 42.8% to ₹290.64 crore as against ₹203.45 crore at the end of September 2023, the company said in an exchange filing released during Wednesday's trading hours.

Total expenses also rose to ₹286.8 crore in the reporting quarter, compared to ₹196 crore in the year-ago period.

Commenting on results, Upasana Taku, Executive Director, Co-founder and CFO, of One MobiKwik Systems Ltd, said, "We are thrilled to announce our first quarterly results post-listing, marking a significant milestone in MobiKwik’s journey. The strong growth in our payments business demonstrates our ability to scale while maintaining strong contribution margins. The Company continues to work on balancing growth and profitability by increasing market share and launching innovative products."

In a regulatory filing, the company said it is the largest digital wallet in India, with a 23% market share of the prepaid payment instrument (PPI) wallet gross transaction value (GTV) as of November 2024.

Its total registered user base stands at 167 million, including six million users added in the latest second quarter.

The company's merchant base expanded by 1.4 lakh in the July-September quarter of FY25, bringing the total to 4.40 million merchants.