Gurugram, February 04, 2025 – One MobiKwik Systems Ltd. (NSE: MOBIKWIK, BSE: 544305) announced its financial results for the quarter and nine months ended December 31, 2024, showcasing robust growth in its digital payments business while navigating challenges in financial services distribution.
Key Financial Highlights (9mFY25)
Metric
9mFY25
YoY Growth
Total Income
INR 9,140 Mn
+48%
Payments GMV
INR 828 Bn
+248%
Contribution Margin
INR 2,980 Mn
30%+ maintained
EBITDA
INR -336 Mn
Impacted due to lower contribution margin
Quarterly Performance (Q3FY25)
Metric
Q3FY25
Q3FY24
YoY Growth
Total Income
INR 2,745 Mn
INR 2,314 Mn
+19%
Payments GMV
INR 294 Bn
INR 96 Bn
+206%
Payments Revenue
INR 1,965 Mn
INR 739 Mn
+166%
Payments Gross Margin
19%
12%
55% YoY Growth
EBITDA
INR -427 Mn
INR 108 Mn
Decline due to lower margins
New Users Added
5 Mn
-
-
New Merchants Onboarded
110K
-
-
Business Highlights
Payments Business Strength: MobiKwik’s Payments GMV surged 206% YoY, driven by an expanded merchant base and improved take rates. The company recorded a gross margin of 19% in payments, significantly higher than the previous year.
Financial Services Slowdown: Distribution of financial products saw headwinds, with digital credit GMV declining from INR 16.2 Bn in Q2FY25 to INR 7.0 Bn in Q3FY25, reflecting cautious credit disbursal.
Focus on High-Quality Credit Products: The company is pivoting towards ZIP EMI, catering to high-credit-quality customers, while onboarding Piramal Finance as a new lending partner.
Fixed Cost Control: Despite challenges in financial services, fixed costs remained stable, reflecting operational efficiency.
Strategic Developments & Future Outlook
e-Rupee Launch: MobiKwik became the first fintech to fully launch a CBDC (e₹ wallet) in collaboration with the Reserve Bank of India (RBI), offering secure, offline-compatible digital transactions.
UPI Expansion: The introduction of Pocket UPI and RuPay Credit Card on UPI is expected to drive market share in India's growing digital payment ecosystem.
Bill Payments & Merchant Monetization: New revenue streams through bill payments, rental and subscription services for merchants, and MDR income from RuPay credit cards.
"MobiKwik’s strong growth in payments underscores our ability to scale while maintaining healthy margins. With our IPO behind us and access to capital, we are focused on sustained profitable growth, driving deeper financial inclusion in India."
MobiKwik continues to expand its footprint as India’s largest digital wallet, leveraging payments growth while adapting to financial services market dynamics. With strategic investments in new fintech innovations and a growing merchant base, the company aims to drive long-term value creation and profitability.