• Source:JND
Add as a preferred

One Mobikwik System Share Price:  The shares of One Mobikwik Systems rose over 11% in afternoon trade on Tuesday after the company announced a dip in losses and an increase in earnings in the second quarter of FY2024-25. At around 1:44 pm, Mobikwik's share price was trading at Rs 626.35, up 11.74% or 65 rupees against the previous day's closing price.

One Mobikwik System Q2 Result

Digital wallet provider MobiKwik, which got listed last month, on Tuesday reported a loss of Rs 3.59 crore in the second quarter ended September 2024 as against a standalone profit of Rs 6 crore in the same quarter a year ago.

This is the first quarterly announcement after One MobiKwik Systems Ltd got listed on the bourses at a hefty premium of 57.7 per cent per share over the allotment price.

Also Read: Capital Infra Trust IPO Opens For Subscription Today; Know Latest GMP And Other Details

MobiKwik's income rises

The company's total income during the quarter under review rose to Rs 294 crore from Rs 207 crore at the end of September 2023, One MobiKwik Systems Ltd said in a regulatory filing.

Also, total expenses rose to Rs 287 crore at the end of the second quarter of the current fiscal from Rs 196 crore in the same quarter of the previous fiscal.

The company reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 7 crore for the quarter on the back of improved contribution margins with optimised costs, a statement said.

The company reported a net loss of Rs 3.59 crore in Q2 FY21 as it continues to invest in the business for the next growth phase. Upasana Taku, Executive Director, of One MobiKwik Systems Ltd, said the company continues to maintain a balance between growth and profitability by increasing market share and launching innovative products.

Also Read: Zomato Share Price Plunges Over 5% In Intraday Trade After Jeffries Downgrades Rating

(With Inputs From PTI)