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The frenzy over India’s startup IPOs could be back in fashion, but for several of the new entrants to the market last year, the honeymoon is already over. Like MobiKwik
, which has been in a world of pain since the listing.
MobiKwik’s net loss increased over six times on a year-on-year basis to INR 41.9 Cr, from INR 6.6 Cr for the same quarter last year, while operating revenue declined 20.7% YoY to INR 271.3 Cr.
And yet, the story isn’t entirely one of decline. MobiKwik delivered its highest-ever payments gross margin and GMV growth…
