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MobiKwik reports a significant financial loss despite a surge in users and payment volumes.
MobiKwik, an Indian fintech company, reported a significant net loss of Rs 55 crore in Q3 FY25, a 1,000% increase from a profit of Rs 5 crore last year.
Revenue dropped by 7% quarter-on-quarter to Rs 274 crore, while expenses rose by 10.84% to Rs 317 crore.
Despite the financial losses, the company added 5 million new users, bringing the total to 172 million, and expanded its merchant network to 4.5 million.
Payment GMV increased by 206% year-on-year, though financial services revenue declined due to reduced lending.
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MobiKwik reporta una pérdida financiera significativa a pesar de un aumento en los usuarios y los volúmenes de pago.