MobiKwik FY20 revenue surges 134% to Rs 379 cr; eyes profits this fiscal

MobiKwik's merchant-facing payment gateway business registered net revenue of Rs 190 crore in FY20, compared to Rs 101 crore in FY19 on a standalone basis

Digital payments company MobiKwik on Wednesday said its net revenue has surged 134 per cent to Rs 379 crore in FY20, and exuded confidence of hitting profitability this fiscal.

MobiKwik, which competes against companies like Paytm and Flipkart-owned PhonePe, had clocked a net revenue (primarily income from transactions and income share from financial products) of Rs 162 crore in FY19.

"This is the third consecutive year where we have demonstrated higher than 100 per cent growth. Our cash loss has reduced 91 per cent, last year on a revenue of Rs 162 crore, we had lost in cash Rs 98 crore, versus