MobiKwik reports profitable growth in Q2 FY24; Strong H1 performance in line with FY24 goals

Gurugram, October 05, 2023.

MobiKwik, India’s leading digital banking platform, released its unaudited Q2FY24 results today with a52% growth in revenues over the corresponding period in FY23 and its second consecutive quarter of PAT profitability.

The revenues for the quarter stood at INR 208 crores, a growth of 17% over the previous quarter in the same fiscal, with a PAT of INR 5 crores.

With a 58% increase in revenues compared to H1FY23, MobiKwik has scaled its revenues to INR 385 crores with a PAT of INR 8 crores in H1FY24.

“Our purpose is to make digital banking services accessible to people across demographics pan-India, and we are seeing positive uptake on our platform. The results are evident with another quarter of sustained revenue growth in line with our vision for the year,”said UpasanaTaku, Co-Founder& COO, MobiKwik. 

In Q1FY24, MobiKwik had announced a substantial 68% yearly Q-o-Q growth in revenue amounting to INR 177crores and delivered its first PAT positive quarter with a PAT of INR 3cr.