One MobiKwik Systems (MOBIKWIK) Q2 24/25 earnings summary

Executive summary

• Registered user base reached 167 million as of September 2024, up 13.6% year-over-year, with 5.9 million new users added in Q2FY25.

• Merchant base expanded to 4.4 million, a 15.5% increase year-over-year, with 140,000 new merchants onboarded in the quarter.

• Unaudited consolidated financial results reviewed for the quarter and half-year ended 30 September 2024, following the company's IPO and listing on NSE and BSE on 18 December 2024.

• The group operates in a single segment: financial and payment services.

Financial highlights

• Total income rose 42.0% year-over-year to INR 2,937 million in Q2FY25.

• Revenue from operations for Q2 FY25 was INR 2,906.46 million; total income reached INR 2,936.68 million.

• EBITDA for the quarter was INR 68.04 million, up from INR 22.30 million in the previous quarter.

• Profit after tax loss narrowed to INR 35.9 million from INR 66.2 million sequentially.

• Payment GMV surged 267.3% year-over-year to INR 282.8 billion in Q2FY25, driving strong revenue growth.

Outlook and guidance

• Revenue from financial product distribution expected to be supported by new product launches, including FD-backed Rupay credit cards.

• Focus remains on increasing market share in UPI through differentiated offerings like Pocket UPI.

• The company completed its IPO post-quarter, raising capital through a fresh issue of 20,501,792 equity shares at INR 279 per share.

• Anticipates replacement of small-ticket credit product "ZIP" volumes with new credit card products.