Mobikwik share price soars 14% as firm narrows net loss to Rs 3.6 cr in Q2

Mobikwik share price, Mobikwik Q2 results: Mobikwik Systems reported a standalone net loss of Rs 2.9 crore in Q2FY25, narrowed down from a loss of Rs 11.37 crore seen in Q1FY25

Mobikwik Q2 results: One Mobikwik Systems share price surged 14.3 per cent intraday on the BSE on Tuesday, January 7, 2025, after the company announced its September quarter results.

 

The stock hit an intraday high of Rs 638 per share, and was trading 8.7 per cent higher at Rs 607 at 2:05 PM. By comparison, the BSE Sensex index was quoting 0.2 per cent higher. 

 

For the quarter ended September 30, 2024, Mobikwik said its standalone revenue from operations came in at Rs 289.5 crore, higher than revenue of Rs 201.48 crore seen last year. On a sequential basis, however, the revenue fell from Rs 340.6 crore.  On a consolidated basis, its revenue from operations increased to Rs 290.6 crore in the September 2024 quarter, from Rs 203.4 crore Y-o-Y, but slipped from Rs 342.2 crore Q-o-Q.

 

 

On the flip side, Mobikwik reported a decline in standalone Ebitda (earnings before interest, tax, depreciation, and  amortisation) on a year-on-year basis, but improvement on a quarter-on-quarter basis.

 

Mobikwik’s Q2FY25 Ebitda stood at Rs 8.2 crore as against Rs 12.37 crore Y-o-Y, and and Ebitda loss of Rs 1.89 crore Q-o-Q. 

 

Overall, Mobikwik Systems reported a standalone net loss of Rs 2.9 crore in Q2FY25, narrowed down from a loss of Rs 11.37 crore seen in Q1FY25. The company, however, had reported a net profit of Rs 5.89 crore in the September quarter of the previous year.   On a consolidated basis, Mobikwik's net loss narrowed to Rs 3.59 crore in Q2FY25 from a net loss of Rs 6.61 crore Q-o-Q. It, however, had a profit of Rs 5.25 crore in Q2FY24.

 

According to One Mobikwik Systems’ investor presentation, the fintech payment company had 167 million registered users as of September 30, 2024, up 13.6 per cent Y-o-Y. Of this, 4.4 million were merchant users.

 

Its payment gross merchandise value (GMV) stood at Rs 28,280 crore at the end of Q2FY25, up a staggering 267.3 per cent on year. Its Digital Credit GMV was Rs 1,630 crore, up 26.5 per cent Y-o-Y at a payment take rate of 0.7 per cent.

 

For the half year-ended September 30, 2024, Mobikwik reported a revenue from operations of Rs 630.1 crore, up from Rs 376.6-crore reported in H1FY24.

 

The company reported a net loss of Rs 14.28 crore for H1FY25 as against a net profit of Rs 8.4 crore seen in H1FY24.

One Mobikwik Systems Outlook

Going ahead, the company said it sees significant headroom to gain market share in the UPI ecosystem through differentiated products such as Pocket UPI, which allows users to use a digital wallet to pay on the UPI network.

About One Mobikwik Systems shares

Mobikwik shares listed on bourses on December 18, 2024, with a 58.51 per cent premium over the IPO allotment price of Rs 279 on BSE at Rs 442.25 apiece. 

 

On the National Stock Exchange (NSE), Mobikwik shares were listed at Rs 440, reflecting a premium of 57.7 per cent per share against the issue price. Currently, the stock trading at Rs 583.9 per share has gained over 109 per cent from its issue price. 

 

MobiKwik is a digital banking platform, offering a wide range of financial products for both consumers and merchants, including payments, digital credit, and investments. MobiKwik allows users make payments for all their daily life needs, including utility bills, eCommerce shopping, food delivery, and shopping at large retail chains, mom & pop (kirana) stores, etc.