Fintech company One MobiKwik Systems Ltd. reported a net loss of ₹3.6 crore for the September 2024 quarter, reversing a net profit of ₹5.3 crore in the same period last fiscal. The loss was attributed to an increase in expenses, the company said in an exchange filing on January 7.
Despite the loss, operational revenue for MobiKwik rose 43% year-on-year to ₹291 crore from ₹203.45 crore in the corresponding quarter of FY24. However, expenses climbed to ₹287 crore from ₹196 crore in the year-ago period, leading to a negative bottom line.
The total income of the company rose to ₹293.67 crore during the period under review, from ₹207 crore during the same quarter of the last fiscal. EBITDA stood at ₹6.8 crore for the quarter in review.
The scrip of MobiKwik, post Q2 earnings announcement, traded flat, closing at ₹564.50 per share on the NSE, up 0.61%. The fintech company made its debut on the bourses at ₹440 per share on the NSE and ₹442.25 on the BSE, which was a premium of 57.71% and 58.51% respectively against its issue price of ₹279. The market capitalization of the company post-listing stood at ₹3,890.14 crore.
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