One Mobikwik Systems Ltd, the parent company of MobiKwik, on Tuesday announced its quarter earnings for Q2FY25 with a loss of Rs 3.59 crore on account of continued investments in the business for the next growth phase. It had recorded a profit of Rs 5.23 crore during the same period of previous financial year. This is the company’s first quarter results announcement after becoming a public company last year. It posted revenue from operations at Rs 290.65 crore, posting a growth of 42.86 per cent as against Rs 203.45 crore reported during the second quarter of FY24. 

For the quarter ended September 30, 2024, MobiKwik posted total income at Rs 293.67 crore, up 42 per cent YoY and contribution margin of Rs 117.90 crore, up 56.2 per cent on-year. Contribution margin as a percentage of total income grew to 40 per cent in Q2FY25 as compared to 37 per cent in Q2FY24 and 31 per cent in Q1FY25.

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Driven by improvements in the contribution margin coupled with optimized cost, MobiKwik recorded EBITDA for the quarter at Rs 6.80 crore. The Company reported a net loss of INR 35.94 Mn in Q2FY25 on account of continued investments in the business for the next growth phase.

Upasana Taku, Executive Director, Co-founder & CFO, 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.”

Performance across businesses

Platform Growth: MobiKwik said that it has a 23 per cent market share of the PPI wallet gross

transaction value (GTV) as of November 2024. With the addition of around 6 million users in Q2FY25, the total registered user base now stands at 167 million. Merchant base, meanwhile, expanded by approximately 1.4 lakh in Q2FY25, bringing the total to 4.40 million merchants.

Payments Business: For the quarter, the company’s payments GMV increased to Rs 28.30 thousand crore, up 267.3 pr cent YoY. Payments revenue for the quarter increased to Rs 188.70 crore, up 181.3 per cent on-year. MobiKwik posted industry-leading payments gross margin at 19.2 per cent.