Sequentially, the revenue declined 14.95% from INR 340.42 Cr in the June quarter
MobiKwik’s total expenditure jumped by 48% YoY to INR 287.2 Cr in Q2 FY25 from INR 193.9 Cr in Q2 FY24
The company reported a bottom line of INR 2.91 Cr in net loss this quarter from a profit of INR 5.9 Cr reported in same quarter last fiscal
Digital payments unicorn MobiKwik
reported a 43.6% year-on-year (YoY) increase in its operating revenue, which climbed to INR 289.5 Cr in Q2 FY25 from INR 201.5 Cr in the corresponding quarter of the previous fiscal year.
Sequentially, the revenue declined 14.95% from INR 340.42 Cr in the June quarter.
However, the company reported a bottom line of INR 2.91 Cr in net loss this quarter from a profit of INR 5.9 Cr reported in same quarter last fiscal. Sequentially, the company narrowed its net loss by 74.49% from INR 11.37 Cr net loss in Q1 FY25.
Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform that offers a suite of financial products for both consumers and merchants. It earns revenue by offering online checkout, Kwik QR scan and pay, MobiKwik Vibe (Soundbox), MobiKwik EDC Machine, merchant cash advance, among other services, to businesses and merchants.
Total Expenditure Surges
MobiKwik’s total expenditure jumped by 48% YoY to INR 287.2 Cr in Q2 FY25 from INR 193.9 Cr in Q2 FY24. The sharp rise in expenses was primarily driven by a significant increase in payment gateway costs.
On a quarter-on-quarter (QoQ) basis, the total expenditure narrowed by -17.12% from INR 346.53 Cr in Q1 FY25.
Expense Breakdown:
Employee Benefit Expenses: Employee costs grew 11% YoY, reaching INR 42.6 Cr in Q3 FY25 from INR 38.3 Cr in the year-ago period. The increase indicates MobiKwik’s continued investments in talent acquisition and retention.
Payment Gateway Costs: The largest expense component, payment gateway costs, surged by 227% YoY to INR 137.6 Cr in Q3 FY25 from INR 42.1 Cr in Q3 FY24.
Lending Operational Expenses: Lending-related costs saw a decline of 19.24%, falling to INR 17.6 Cr in Q3 FY25 compared to INR 63.0 Cr in the same period.
