MobiKwik Systems Limited has reported a significant improvement in its financial results, with an EBITDA of Rs 174 million in Q4, nearing breakeven, driven by a 112% growth in contribution profit.
According to a BSE filing, the company’s Q4 revenue from operations stood at Rs 2,887 million, up 8% year-on-year. The quarterly results cap a transformational full year for the company.
The company’s UPI transactions surged 170% year-on-year, 6.5 times faster than the industry average, making it the second-fastest growing TPAP in India’s UPI ecosystem.
This growth has been driven by the company’s focus on digital payments and financial services. The company’s Contribution Profit grew 21% year-on-year to Rs 4,374 million, with a margin of 38%, up from 30% in the previous year.
The company’s Payments GMV stood at Rs 524 billion in Q4, up 58% year-on-year, while ZIP EMI GMV stood at Rs 8,377 million, up 59% year-on-year.
The company’s total income for the full year stood at Rs 11,542 million. The company’s focus on disciplined execution has led to a significant improvement in its financial results.
The company’s profit after tax stood at Rs 44 million in Q4, up from a loss of Rs 560 million in the same quarter last year. The company’s EBITDA for the full year stood at a loss of Rs 52 million, a significant improvement from a loss of Rs 794 million in the previous year. The company’s financial results demonstrate its ability to scale and achieve profitability.
The company’s strong financial results are a testament to its position as a leading digital wallet company in India. With its focus on digital payments and financial services, the company is well-positioned to continue its growth trajectory.
The company’s ability to achieve profitability while maintaining its growth momentum is a significant achievement.
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