MobiKwik’s net loss widens to Rs 55 crore as revenue growth remains flat

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Fintech startup One MobiKwik Systems, which runs payments app MobiKwik, continued to remain in the red with a consolidated net loss of Rs 55 crore in the March quarter, against Rs 52.3 crore in the December quarter.

The company reported an operating revenue of Rs 265 crore, almost flat against the Rs 268 crore reported in the December quarter. MobiKwik’s business was impacted by a slowdown in its lending operations, which reduced its contribution margins to 30% from 37% and also slowed disbursals.

Overall expenses rose 3% to Rs 323 crore in the March…



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MobiKwik’s net loss widens to Rs 55 crore as revenue growth remains flat


Fintech startup One MobiKwik Systems, which runs payments app MobiKwik, continued to remain in the red with a consolidated net loss of Rs 55 crore in the March quarter, against Rs 52.3 crore in the December quarter.

The company reported an operating revenue of Rs 265 crore, almost flat against the Rs 268 crore reported in the December quarter. MobiKwik’s business was impacted by a slowdown in its lending operations, which reduced its contribution margins to 30% from 37% and also slowed disbursals.

Overall expenses rose 3% to Rs 323 crore in the March…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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