The foremost digital banking platform in India, MobiKwik, today revealed its unaudited Q2FY24 results. The results show a Revenue increase of 52% compared to the same period in FY23, while PAT profitability continued for the second consecutive quarter. With a PAT of INR 5 crores, the quarter’s revenues were INR 208 crores, up 17% from the same fiscal quarter before.
MobiKwik has increased its revenues to INR 385 crores with a PAT of INR 8 crores in H1FY24, a 58% increase in revenues compared to H1FY23. In Q1FY24, MobiKwik announced a substantial 68% yearly Q-o-Q growth in revenue amounting to INR 177 crores and delivered its first PAT positive quarter with a PAT of INR 3cr.
Upasana Taku, Co-Founder& COO, of MobiKwik, said, “We continue to develop new products that ensure greater financial inclusion, creating value for users, small businesses, and merchants across new Bharat. We continue to add users to the top of the funnel and provide everyone a more engaging banking experience in the palm of their hands.”