Mobikwik posts flat scale in Q4 FY25; bleeds heavily

Fintech platform MobiKwik reported its quarterly results for the fourth quarter of the last fiscal year (Q4 FY25) on Tuesday, showing a flat year-on-year growth.

MobiKwik’s revenue from operations increased to Rs 268 crore in Q4 FY25 from Rs 265 crore in Q4 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show.

However, Mobikwik's earnings for the full fiscal year grew 33.9% to Rs 1,192 crore in FY25, compared to Rs 890 crore in FY24.

Commissions on recharges, processing, and interest on servicing loans, payment gateways, and technology platforms were the primary revenue sources for MobiKwik in Q4 FY25. However, the company did not provide an income breakdown in its quarterly report.

According to the press release, MobiKwik's registered user base has grown to 176.5 million with 4.4 million new merchants. The company’s payment of GMV has also surged 2.3X year-on-year to Rs 331 billion.

On the cost side, expenditures on the payment gateway were the largest cost center, accounting for 45% of the overall cost, which stood at Rs 147 crore in Q4 FY25. The cost of employee benefits and lending fees was recorded at Rs 43 crore and Rs 41 crore, respectively.

Its financial guarantee, legal, advertising, finance, and other overheads took its total expenditure to Rs 324 crore in Q4 FY25 from Rs 266 crore in Q4 FY24. For instance, the Gurugram-based company posted a net profit of Rs 14 crore for the previous fiscal (FY24).

In the end, Mobikwik reported a net loss of Rs 56 crore in Q4FY25, compared to a loss of Rs 67 lakhs in the same quarter of the previous fiscal year. During the full fiscal year, its bottom line was negative at Rs 121.5 crore.

Mobikwik made its debut on the stock exchange last December 24 with an impressive 59% premium on its issue price on the first day of its listing. The company is currently trading at Rs 273.7 (as of 10:37 AM) with a total market capitalization of Rs 2,126 crore or approximately $250 million.