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

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.