NEW DELHI: IPO bound MobiKwik has delivered a second consecutive profit after tax positive quarter. The fintech company posted a net profit of Rs 5 crore in the September quarter. Revenues rose 52% year-on-year to Rs 208 crore in the second quarter, the company said.
“We expect that in the long term, in the coming quarters, our profit margins will continue to increase significantly as a percentage of our revenue,” co-founder and CEO Bipin Preet Singh told TOI. MobiKwik had reported a profit of Rs 3 crore in Q1FY24.
“The idea is to get a few more quarters under our belts with more growth and profitability and then go for an IPO,” said Singh. MobiKwik had postponed its Rs 1,900-crore IPO in 2021 due to troubled markets and a dismal debut from bigger rival Paytm.
“We expect that in the long term, in the coming quarters, our profit margins will continue to increase significantly as a percentage of our revenue,” co-founder and CEO Bipin Preet Singh told TOI. MobiKwik had reported a profit of Rs 3 crore in Q1FY24.
“The idea is to get a few more quarters under our belts with more growth and profitability and then go for an IPO,” said Singh. MobiKwik had postponed its Rs 1,900-crore IPO in 2021 due to troubled markets and a dismal debut from bigger rival Paytm.
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