MobiKwik Q2 Results: New listing slips into loss from profit, revenue grows 43%

One MobiKwik Systems Ltd., parent company of payment solutions provider MobiKwik reported its September quarter results on Tuesday, January 7, its first after becoming a public company last year.

MobiKwik reported a net loss of ₹3.6 crore for the September quarter. It had reported a net profit of ₹5.3 crore during the same quarter last year.

At the same time, its revenue from operations during the September quarter increased by 43% to ₹291 crore, compared to ₹203.4 crore during the same period last year.

MobiKwik’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 37% from last year to ₹6.8 crore from ₹10.8 crore last year, while margins expanded to 5.2% from 2.3% during the year-ago quarter.

At the end of the September quarter, MobiKwik had a registered user base of 167 million, a growth of 13.6% from the same quarter last year, while the total number of merchants on board grew by 15.5% to 4.4 million.

Payment Gross Merchandise Value (GMV) for the quarter more than tripled from last year to ₹28,280 crore, while payment take rate remained stable at 0.7%.

Shares of MobiKwik fell to the day’s low post the earnings announcement and after some choppy moves, are currently trading with gains of 1.9% at ₹571.7. The stock is still up over 100% from its IPO price of ₹279. This is despite the stock having corrected nearly 20% from its post-listing high of ₹698.