MobiKwik September Quarter Results: Digital payments firm One MobiKwik Systems Ltd has released financial results for the July-September 2024 quarter. The company’s standalone revenue from operations during the quarter increased by 43.6 percent year-on-year to Rs 289.5 crore. A year ago it was Rs 201.48 crore. MobiKwik swung into loss in the September 2024 quarter. Standalone net loss was recorded at Rs 2.91 crore, compared to a profit of Rs 5.89 crore a year ago.
The company was listed on December 18 at Rs 440 with about 58 per cent premium over the IPO price of Rs 279 on NSE and at Rs 442.25 with 58.51 per cent premium on BSE. At the close of trading, the stock closed at Rs 528 on NSE and Rs 530.30 on BSE, hitting the upper circuit with a gain of 20 percent from the listing price.
Even on consolidated basis MobiKwik in loss
The company is in loss even on a consolidated basis. According to the information given to the stock exchanges, the company’s consolidated net loss from operations during the September 2024 quarter was recorded at Rs 3.59 crore, whereas a year ago the company was in profit of Rs 5.22 crore. Consolidated revenue increased to Rs 290.64 crore on annual basis. A year ago it was Rs 203.45 crore.
However, on quarterly basis the company’s profit has declined by Rs 8.4 crore on standalone basis and by Rs 3 crore on consolidated basis. MobiKwik’s EBITDA declined 37% to Rs 6.8 crore in the September 2024 quarter from a year ago. A little earlier it was Rs 10.8 crore. The margin increased to 5.2%, which was 2.3% in the September 2023 quarter.
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Great rise in shares
Mobikwik shares are rising on January 7. The price jumped by 14 percent from the previous closing price to reach a high of Rs 638 on BSE during the day. At the end of trading, the stock settled at Rs 609.70 with a gain of 9 percent. The market cap of the company has reached Rs 4700 crore. Promoters held 25.18 percent stake in the company till December 16, 2024.
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