MobiKwik Reports Mixed Q2 FY25 Results with 43% YoY Growth, Slight Quarterly Decline

Digital payments platform MobiKwik released its second-quarter results for fiscal year 2025 today on the National Stock Exchange (NSE). The company showed strong year-over-year growth but a sequential decline in earnings.

The fintech company reported revenue from operations of Rs 290.6 crore in Q2 FY25, marking a 43% increase from Rs 203 crore in the same quarter last year. However, earnings saw a 15% decline from the previous quarter's Rs 342 crore in Q1 FY25.

MobiKwik's growth is reflected in its expanding user base, which grew 13.6% year-over-year to 167 million registered users and 4.4 million merchants. MobiKwik's payment GMV (Gross Merchandise Value) showed remarkable growth, increasing 3.67 times year-over-year to Rs 282.8 billion.

On the expense front, payment gateway costs remained the largest, accounting for 47% of total expenses, at Rs 136 crore in Q2 FY25. Employee benefits totaled Rs 43.5 crore, while facilitation fees amounted to Rs 17.5 crore. Overall expenditures rose 47.9% year over year to Rs 287 crore, up from Rs 194 crore in Q2 FY24.

While MobiKwik achieved a positive EBITDA of Rs 3.5 crore for Q2 FY25, the company reported a net loss of Rs 3.5 crore for the quarter. This is in contrast to the Rs 5.2 crore profit recorded in Q2 FY24. The company posted a net profit of Rs 14 crore for the previous fiscal year (FY24).

The company's primary revenue streams include recharge commission, processing fees, interest income from loan servicing, payment gateway services, and technology platforms. However, specific breakdowns were not provided in the quarterly report.

MobiKwik, which went public last month, has seen strong market performance since then. The stock debuted with a 59% premium over its issue price and currently trades at Rs 601.9. Its market capitalization is Rs 4,676 crore (approximately $556 million).