MobiKwik ended their two-day winning streak to close today’s trading session (January 9) 6.84% lower at INR 573 apiece on the BSE
Amid a decline in its share price, the market capitalisation of MobiKwik tumbled to INR 4,451.43 Cr, or roughly $518 Mn
This comes after the Delhi NCR-based company posted a net loss of INR 3.59 Cr in the September quarter of the financial year 2024-25 (Q2 FY25) against a net profit of INR 5.22 Cr in the year-ago quarter
Shares of recently listed fintech major MobiKwik
ended their two-day winning streak to close today’s trading session (January 9) 6.84% lower at INR 573 apiece on the BSE amid a decline in the broader market.
Amid a decline in its share price, the market capitalisation of MobiKwik tumbled to INR 4,451.43 Cr, or roughly $518 Mn.
This comes after the Delhi NCR-based company posted a net loss of INR 3.59 Cr in the September quarter of the financial year 2024-25 (Q2 FY25) against a net profit of INR 5.22 Cr in the year-ago quarter.
Sequentially, the company was able to trim its loss by about 45% from INR 6.62 Cr.
It must be noted that MobiKwik, in December, became the second fintech company to go public in India after Paytm, which made its Dalal Street debut in 2021.
MobiKwik’s shares listed at INR 442.25 on the BSE, a 58.5% premium against the IPO issue price of INR 279. The stock has given an upward run of over 105% since its public listing.
(The story will be updated soon)
