One Mobikwik Systems reported consolidated net loss of Rs 3.59 crore in Q2 FY25 as compared with net profit of Rs 5.22 crore posted in Q2 FY24.
Revenue from operations jumped 42.86% to Rs 290.64 crore during the quarter as compared with Rs 203.45 crore posted in the corresponding quarter last year.The company reported pre-tax loss of Rs 3.32 crore as against pre tax profit of Rs 5.25 crore in Q2 FY24.
Total expenses increased 46.35% YoY to Rs 286.86 crore during the quarter. Payment gateway cost stood at Rs 135.65 crore (up 214.3% YoY), employee benefit expenses stood at Rs 43.59 crore (up 72.5% YoY) during the period under review.
The companys EBITDA for the quarter stood at Rs 6.80 crore, registering de-growth of 37% as compared with Rs 10.8 crore in Q2 FY24. EBITDA margin fell to 2.3% in Q2 FY25 as against 5.2% in Q2 FY24.
In Q2 FY24, payments GMV increased to Rs 28,275 crore, up 267.3% YoY (3.7x YoY), payments revenue increased to Rs 188.7 crore, up 181.3% YoY (2.8x YoY).
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The total registered user base now stands at 167 Million with an addition of around 6 Million users in Q2FY25.
Upasana Taku, executive director, co-founder & CFO, of One MobiKwik Systems, said, We are thrilled to announce our first quarterly results post-listing, marking a significant milestone in MobiKwiks 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.
Shares of One MobiKwik Systems were listed on the bourses on 18 December 2024. The counter was listed at Rs 442.25, exhibiting a premium of 77.56% as compared with issue price of Rs 279.
One MobiKwik Systems (MobiKwik) is Indias largest digital wallet that offers a wide range of payments and financial products to both consumers and merchants. It offers various payment products such as MobiKwik Wallet, UPI, Pocket UPI, and Zaakpay (payment gateway) serving 167 Million registered users and 4.40 Million merchants.
The scrip rallied 11.09% to Rs 620 on the BSE.
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