Mumbai, Feb 4
One MobiKwik Systems Limited reported a 1,000% net loss of ₹55 crore in the December quarter (Q3 FY25), a stark contrast to the ₹5 crore profit from the same period last year (Q3 FY24).
Revenue from operations dropped 7% quarter-on-quarter to ₹274 crore, down from ₹291 crore in Q2 FY25. Total income declined by 6.48% compared to the previous quarter. Meanwhile, total expenses surged by 10.84% to ₹317 crore, pushing the company into deeper losses.
Profit before tax plunged 47.66% to ₹33.22 crore, compared to ₹63.47 crore in Q2 FY25. MobiKwik attributed part of the financial strain to a waiver agreement with a lending partner, forfeiting ₹24.21 crore in income from financial services, adjusted against revenue in the September quarter.
The company’s EBITDA loss was ₹43 crore, a significant drop from a positive ₹10.8 crore last year and ₹6.8 crore in the previous quarter.
Despite the tough quarter, the gross merchandise value (GMV) for the payments segment grew to ₹29,445 crore, a modest 4% increase from the previous quarter. MobiKwik also expanded its user base by 5 million to reach 172 million, and added 1.1 lakh new merchants, bringing the total to 4.5 million.
Following the earnings report, MobiKwik shares fell 1.56% to ₹400.
