Fintech startup One MobiKwik Systems, which runs payments app MobiKwik, continued to remain in the red with a consolidated net loss of Rs 55 crore in the March quarter, against Rs 52.3 crore in the December quarter.
The company reported an operating revenue of Rs 265 crore, almost flat against the Rs 268 crore reported in the December quarter. MobiKwik’s business was impacted by a slowdown in its lending operations, which reduced its contribution margins to 30% from 37% and also slowed disbursals.
Overall expenses rose 3% to Rs 323 crore in the March quarter, primarily on a sharp uptick in costs incurred to operate its lending business. Lending-related expenses jumped to Rs 41 crore from Rs 27 crore in the December quarter. However, for the full year, this cost remained subdued at Rs 175.8 crore compared to Rs 270 crore in FY24.
Employee expenses and payment processing charges remained in the same range as the previous quarter.
The Gurugram-based payments platform closed financial year 2025 with an overall loss of Rs 122 crore, compared to a profit of Rs 9.3 crore a year earlier. However, its operating revenue for the whole of FY2025 surged 31% to Rs 1,164 crore from Rs 884 crore a year back.
The company said in its press release that revenue from financial services fell 28% to Rs 402 crore in FY25 compared to Rs 558 crore a year earlier.
MobiKwik has also stopped its short-duration Zip loans, a high-margin, buy-now-pay-later product, resulting in the overall disbursal of such loans falling 41% to Rs 5,358 crore from Rs 9,093 crore a year earlier.
The fintech expects a revival in growth for the lending business only after the second quarter of FY26. The move to the new digital lending guidelines has also impacted the way revenue is reported, the company added.
While lending revenue slowed, the payments business has done well for the Peak XV Partners-backed firm. Overall gross merchandise value went up to Rs 1,15,900 crore from Rs 38,200 crore in the year-ago period. The growth was driven by new-user acquisition and onboarding of new merchants as well. By March 2025, the number of new merchants stood at 4.59 million and the number of registered users stood at 176 million.
MobiKwik’s stock was trading at Rs 275.7, down 1% on the BSE in early morning trade on Tuesday.
The company reported an operating revenue of Rs 265 crore, almost flat against the Rs 268 crore reported in the December quarter. MobiKwik’s business was impacted by a slowdown in its lending operations, which reduced its contribution margins to 30% from 37% and also slowed disbursals.
Overall expenses rose 3% to Rs 323 crore in the March quarter, primarily on a sharp uptick in costs incurred to operate its lending business. Lending-related expenses jumped to Rs 41 crore from Rs 27 crore in the December quarter. However, for the full year, this cost remained subdued at Rs 175.8 crore compared to Rs 270 crore in FY24.
Employee expenses and payment processing charges remained in the same range as the previous quarter.
The Gurugram-based payments platform closed financial year 2025 with an overall loss of Rs 122 crore, compared to a profit of Rs 9.3 crore a year earlier. However, its operating revenue for the whole of FY2025 surged 31% to Rs 1,164 crore from Rs 884 crore a year back.
The company said in its press release that revenue from financial services fell 28% to Rs 402 crore in FY25 compared to Rs 558 crore a year earlier.
MobiKwik has also stopped its short-duration Zip loans, a high-margin, buy-now-pay-later product, resulting in the overall disbursal of such loans falling 41% to Rs 5,358 crore from Rs 9,093 crore a year earlier.
The fintech expects a revival in growth for the lending business only after the second quarter of FY26. The move to the new digital lending guidelines has also impacted the way revenue is reported, the company added.
While lending revenue slowed, the payments business has done well for the Peak XV Partners-backed firm. Overall gross merchandise value went up to Rs 1,15,900 crore from Rs 38,200 crore in the year-ago period. The growth was driven by new-user acquisition and onboarding of new merchants as well. By March 2025, the number of new merchants stood at 4.59 million and the number of registered users stood at 176 million.
MobiKwik’s stock was trading at Rs 275.7, down 1% on the BSE in early morning trade on Tuesday.
You may also like
Shoppers praise The Works' 'super cute' toy range with prices starting from 80p
Lord stops eldest son from taking over £85m ancestral estate due to 'lack of achievement'
Sensex, Nifty shed 1 pc each amid broad sell-off; auto stocks hit hard
'Ginny Wedss Sunny 2' leads Avinash Tiwary & Medha Shankr attend Rishikesh's Ganga Aarti
Denzel Washington pulls out of Cannes Film Festival event after photographer bust-up
