New Delhi, May 20 (IANS). Fintech company Mobikwik has recorded a consolidated loss of Rs 56.03 crore in the fourth quarter of FY 2024-25, while the company suffered a slight loss of only Rs 67 lakh in the same quarter of the last financial year.
The company suffered a loss of Rs 55.2 crore in the December quarter of FY 25.
The company has suffered a loss of Rs 121.5 crore in the entire financial year 25. Earlier, Mobikwik made a profit of Rs 14 crore in FY 24.
Mobikwik’s income from operations increased by 1.43 percent to Rs 267.78 crore in the fourth quarter, which was Rs 264.98 crore in the fourth quarter of FY 24.
However, income has decreased by 0.6 percent compared to the previous quarter.
On an annual basis, the company’s income was seen to have a strong growth of 33.9 percent, which increased from Rs 890.31 crore in FY 24 to Rs 1,192.49 crore in FY 25.
The company’s expenses continue to increase. The total expenditure in the fourth quarter increased by 22 percent to Rs 324.28 crore on an annual basis, which was Rs 265.70 crore in the same period of a year ago.
The expenditure on a quarterly basis also increased by 2.2 percent from Rs 317.14 crore in the third quarter. The expenditure in FY 25 for the whole year increased by 49 percent to Rs 1,271.88 crore, while in FY 24 it was Rs 853.09 crore.
A large part of the expenditure is the payment gateway cost, which was Rs 147.05 crore in the fourth quarter. This was more than 45 percent of the company’s total quarterly expenditure.
Despite the increase in deficit, Mobikwik continued to increase its users and merchant base. By the end of FY 25, the company had 176.4 million users, with 4.4 million new customers in the fourth quarter alone.
20.6 million new users are connected to the platform throughout the year.
The Executive Director, Co-Founder and CFO Upasana Taku, Executive Director, Forest Mobikwik Systems, said the payment business has shown strength, which has increased three times on an annual basis.
-IANS
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