Gurugram, January 07, 2025: One MobiKwik Systems Ltd. (MobiKwik) (NSE: MOBIKWIK/ BSE: 544305), India’s largest digital wallet, has announced its post-listing financial results (standalone and consolidated) for the quarter ended September 30, 2024.
In Q2FY25, MobiKwik demonstrated solid financial performance, primarily driven by the expansion of its Payments business. The Company reported a substantial increase in Payments GMV, which grew by 267.3% year-on-year (YoY), underscoring its leadership in digital payments.
For the quarter ended September 30, 2024, the Company posted Total Income of INR 2,936.68 Mn (up 42% YoY) and Contribution Margin of INR 1,179 Mn (up 56.2% YoY). Contribution Margin as a percentage of Total Income grew to 40% in Q2FY25 as compared to 37% in Q2FY24 and 31% in Q1FY25.
Driven by improvements in the contribution margin coupled with optimized costs, the Company recorded EBITDA for the quarter at INR 68.04 Mn. The Company reported a net loss of INR 35.94 Mn in Q2FY25 on account of continued investments in the business for the next growth phase.
Key Performance Highlights for Q2FY25:
- Platform Growth:
- MobiKwik is the largest digital wallet in India with a 23% market share of the PPI wallet gross transaction value (GTV) as of November 2024.
- The total registered user base now stands at 167 Mn with an addition of ~6 Mn users in Q2FY25.
- Merchant base expanded by ~1.4 lakh in Q2FY25, bringing the total to 4.40 Mn merchants.
- Payments Business:
- Payments GMV for the quarter increased to INR 283 Bn, up 267.3% YoY (3.7x YoY)
- Payments Revenue for the quarter increased to INR 1,887 Mn, up 181.3% YoY (2.8x YoY)
- Industry-leading payments gross margin at 19.2%, improved significantly on both QoQ and YoY basis.
Upasana Taku, Executive Director, Co-founder & CFO, of One MobiKwik Systems Ltd., said, “We are thrilled to announce our first quarterly results post-listing, marking a significant milestone in MobiKwik’s journey. The strong growth in our payments business demonstrates our ability to scale while maintaining strong contribution margins. The Company continues to work on balancing growth and profitability, by increasing market share and launching innovative products.”
About MobiKwik
One MobiKwik Systems Ltd. (MobiKwik) is India’s largest digital wallet that offers a wide range of payments and financial products to both consumers and merchants.
The Company founded by Bipin Preet Singh and Upasana Taku in 2009, today offers various payment products such as MobiKwik Wallet, UPI, Pocket UPI, and Zaakpay (payment gateway) serving 167 Mn registered users and 4.40 Mn merchants. The Company has expanded into the distribution of financial products ranging from credit (MobiKwik ZIP, ZIP EMI), savings & investment (Fixed Deposits, Mutual Funds, Digital Gold, Lens.AI), and insurance products on its platform.
According to the RedSeer Report, as of Fiscal 2023, MobiKwik had the fourth-highest user base in India in terms of total registered users on the platform. MobiKwik was termed as one of the largest leading digital financial product and services platforms in India by registered users.
For more details, please visit our website: https://www.mobikwik.com/ir
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