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  3. MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24

MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24

20 Aug 2024

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Key Takeaways

MobiKwik's strong financial recovery and profitability in FY24 significantly enhanced its IPO prospects.

MobiKwik's strong financial recovery and profitability in FY24 significantly enhanced its IPO prospects.

One MobiKwik Systems

One MobiKwik Systems

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Expert Analysis

MobiKwik Reports Rs 875 Cr Revenue and Rs 14 Cr Profit for FY24.

Expert Analysis:

  • Strong FY24 Recovery: IPO-bound MobiKwik made a strong comeback in FY24, with revenue surging over 62% and achieving profitability, recovering from an Rs 84 crore loss in FY23.

  • Revenue Growth: MobiKwik’s revenue from operations increased to Rs 875 crore in FY24 from Rs 539 crore in FY23, driven by commissions on transactions, loan servicing interest, and payment gateways.

  • Payment Gateway Growth: In FY24, MobiKwik expanded its loan offerings, leading to a 3X increase in lending operational costs to Rs 270 crore from Rs 69 crore in FY23, while its payment gateway revenue grew 18.4% to Rs 201 crore.

  • IPO Preparation: MobiKwik filed its DRHP with SEBI to raise Rs 700 crore and raised Rs 50 crore ($6 million) in debt from BlackSoil Capital.

Publisher:Entrackr