Business EconomyPosted at: Feb 4 2025 8:00PM


MobiKwik gets into red, net loss at Rs 44.2 crore in Q3

New Delhi, Feb 4 (UNI) Digital wallet One MobiKwik Systems Ltd. (MobiKwik) today reported a loss of over Rs 55.28 crore in the third quarter (October-December) of FY25 year-on-year basis, versus Rs 5.27 crore net profit in the same quarter of last fiscal.
Commenting on the quarterly performance, Upasana Taku, Executive Director, Co-founder & CFO of One MobiKwik Systems Ltd., said, “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."
Total income from operations grew to Rs 274.47 crore in the Q3 as against Rs 231.38 crore in the corresponding quarter of previous fiscal, the company said in a regulatory filing with the stock exchanges.
MobiKwik is the largest wallet player, amongst the top players in the Bharat Bill Payment System (BBPS) segment, and also a key player in UPI. With this growth, the Company remains excited about the opportunities to expand digital payments and cross-sell financial products in a rapidly growing digital-first market like India.
The Company continues to be selective and cautious in distributing financial products, prioritizing quality over volume. Although credit product disbursal slowed down in the quarter, the Company remains optimistic about the long-term potential of the distribution of financial products. During the quarter, it partnered with Piramal Finance to offer personal loans.
In January 2025, MobiKwik, in partnership with the Reserve Bank of India (RBI) and Yes Bank, became the first fintech to launch a full version of India’s Central Bank Digital Currency (CBDC) – e-rupee (eRe) for all its Android users.
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