Page 2 - Mobikwik

Mobikwik turns profitable in March quarter, expects to double revenue

Fintech platform Mobikwik turned profitable in the March quarter and expects to almost double revenue to over Rs 1,000 crore in the current fiscal along with full-year profitability, the company's co-founder Upasana Taku said. The company closed the 2022-23 financial year with a 39 per cent net revenue growth at Rs 560 crore. "In Q4 (fourth), 2023, we booked profit. Now my aim is that every quarter from now on should be a profitable quarter. We have reduced cash burn by about 40 per cent. For FY'24, we want to achieve Rs 1,000 crore revenue and Rs 40-50 crore profit," Taku told PTI. She said that 50 per cent of the company's revenue came from the distribution of digital credit products and the rest from payments. "Number of credit active users has gone up from 2 million to 4 million. The reason we have pay-later products is that more than 75 per cent of our users were first to credit customers. 'Buy Now Pay Later' helped us in testing users in short span of time. After they have us

Will expand product offerings; add users, merchants in FY24: MobiKwik COO

'FY24 will be a big year for us. We want to be profitable in all quarters - and for the full financial year'

IPO-bound MobiKwik's total income rises 80% to Rs 540 crore in FY22

IPO-bound fintech firm MobiKwik on Friday said its total income jumped 80 per cent to Rs 540 crore in the financial year ended March 2022. The company had recorded a total income of Rs 302.3 crore in 2020-21. MobiKwik said its contribution margin rose to Rs 145 crore compared to Rs 30 crore in FY 2020-21 and posted an operational profit in the second half of 2021-22. "The most significant milestone was turning EBITDA (earnings before interest, taxes, depreciation, and amortisation) profitable in the second half, a rarity in the tech world which reflects our ethos of remaining at the forefront of fintech innovation, growing rapidly but with capital efficiency. "With business now self-sustaining and the momentum growing, we remain confident of not only achieving our short-term financial goals but also a long-term objective of transforming into a full-service neobank," MobiKwik co-founder Upasana Taku said in the statement. Currently, the firm generates revenue primarily from two ...

GoAir to Mobikwik: IPOs worth Rs 32,881 cr 'to expire' by Dec-end

Out of 27 such IPOs, the offer of GoAir will be the first one to expire

MobiKwik announces launch of 'AutoBill Pay' feature for its 25 mn ZIP users

This feature is designed to help ZIP users pay multiple bills such as electricity, water, gas, mobile, DTH, etc. automatically every month using the BNPL credit line

Mobikwik seeks to raise $100 million in equity after deferring planned IPO

One Mobikwik Systems Ltd. is in talks with investors to raise as much as $100 million in equity to finance business expansion

MobiKwik elevates Anshuman Misra as Chief Product and Technology Officer

Anshuman Misra will work with the product, design, engineering, infrastructure and security functions at MobiKwik

IPO-bound Mobikwik posts first-ever profit in Dec 2021 quarter: Co-founder

IPO-bound fintech firm Mobikwik became profitable in the December 2021 quarter and expects to close the current financial year with almost two times growth in revenue, a top company official has said

Mobikwik to raise private funding as stock market turns bearish

Fintech start-up turns profitable for the first time in December quarter on massive BNPL uptake

Mobikwik expects to double revenue this fiscal, stays cautious on IPO

IPO-bound fintech firm Mobikwik is expecting to close the current financial year with 100 per cent revenue growth, a top company official said.

Dozen Indian IPOs now under extra investor scrutiny after Paytm debacle

Planned smaller IPOs could have a harder time pricing shares if there is a reduced appetite for new listings

Mobikwik defers its Rs 1,900 cr IPO, says will list at 'the right time'

IPO was slated for November; source are now saying the company may go for a listing in 2022

Market wrap: A day after massive sell-off, Sensex, Nifty gain 0.3% each

Paytm shares gain 10% after sliding 37% in 2 days; MobiKwik to delay planned IPO, says CEO; Latent View Analytics lists at 169% premium

Paytm's IPO flop may embitter millions of retail investors

The event in a way will nudge people to be cautious and not take the market for granted by blindly placing bets, says a market expert

MobiKwik to delay planned IPO, says CEO after Paytm's dismal market debut

Indian payments firm MobiKwik has delayed its plans to proceed with an initial public offering (IPO) of shares this month, its CEO said

Skies darken for IPOs planned by Mobikwik, OYO after Paytm's dismal debut

It will take three to four months for people to forget Paytm and that it destroyed wealth, says a founder of a brokerage house in Mumbai

MobiKwik turns unicorn ahead of initial public offering

The company has received markets regulator Sebi's approval to launch an initial public offering, through which it plans to raise up to Rs 1,900 crore.

SJS Enterprises, Mobikwik, Skanray Tech get Sebi nod for IPOs

The Securities and Exchange Board of India (Sebi) has given its approval for the initial share sales of three companies, including SJS Enterprises and One Mobikwik Systems Ltd. Medical equipment maker Skanray Technologies Ltd has also received the nod from the watchdog for its initial public offering (IPO). The three companies have been issued observations by the watchdog, according to the update on the processing status of draft offer documents as on October 8. An observation letter is mandatory for an initial share sale. In Sebi parlance, the issuance of observations implies its go-ahead for the IPO. One Mobikwik Systems Ltd is a leading mobile wallet (MobiKwik Wallet) and Buy Now Pay Later (BNPL) player in India. The company, which filed the Draft Red Herring Prospectus (DRHP) for the IPO in July, plans to offer shares aggregating to Rs 1,900 crore. This will comprise raising Rs 1,500 crore through fresh issue of shares and Rs 400 crore-worth stocks will be offloaded through th

MobiKwik receives Sebi approval for Rs 1,900 crore IPO

Rs 1,500 crore will be mopped up through fresh issue of shares

MobiKwik bullish on core business, buy-now-pay-later launched in May 2019

The firm currently has 22.3 mn pre-approved BNPL users and is handling over 4 mn such transactions a year. It is seeing 14x growth from a year ago