Mobikwik Posts Rs 55 Crore Loss in Q3: Payment Gateway Costs Surge

New Delhi, Feb 4 (PTI) Fintech firm One Mobikwik on Tuesday reported a consolidated loss of Rs 55.28 crore in the third quarter ended December 2024, mainly due to increase in payment gateway cost.

One Mobikwik had posted a profit of Rs 5.27 crore in the same period a year ago, according to the company's regulatory filing.

The payment gateway cost of One Mobikwik jumped about three-fold to Rs 143.7 crore during the reporting period from Rs 50.83 crore in the December 2023 quarter.

The consolidated revenue from operation increased by about 18 per cent to Rs 269.47 crore in the latest third quarter from Rs 228.93 crore in the year-ago period.

One Mobikwik said its payments gross merchandise value (GMV) during the quarter grew manifold to Rs 29,400 crore from Rs 9,600 crore a year ago and its payments revenue more than doubled to Rs 196.5 crore from Rs 73.9 crore on a year on year basis.

"MobiKwik continues to make significant investments in product innovation and development, reflected in our strong growth in the payments business. We continue to see healthy margins across businesses, supporting overall growth. With a successful IPO behind us and access to additional capital, we are confident of driving the business towards long-term value creation and profitable growth," said Upasana Taku, Executive Director, Co-founder and CFO, One MobiKwik Systems.

The registered user base grew by about 14 per cent to 17.2 crore in December 2024 quarter from 15.1 crore in the same period a year ago.

One Mobikwik reported a 16.2 per cent YoY growth in its merchant base to 45.1 lakh from 38.8 lakh a year ago.