MobiKwik Reports Q2 Loss Amid Growth Investments

Digital wallet provider MobiKwik reported a loss of Rs 3.59 crore in Q2FY25, following its recent stock market listing. Despite increased revenue, the company faced higher expenses and continues to invest in growth initiatives. Executive Director Upasana Taku emphasizes balancing growth with profitability.

MobiKwik, a digital wallet provider that recently went public, announced a loss of Rs 3.59 crore for the second quarter ending September 2024, compared to a profit of Rs 6 crore in the same period last year.

The company's revenue surged to Rs 294 crore from Rs 207 crore a year earlier, attributed to strategic investments and an increased contribution margin. Total expenses, however, rose significantly to Rs 287 crore.

Executive Director Upasana Taku stated that the company is committed to balancing growth and profitability, focusing on expanding market share and launching innovative products. MobiKwik's EBITDA stood at Rs 7 crore for the quarter, reflecting its ongoing growth strategy.

(With inputs from agencies.)