MobiKwik, the fintech firm gearing up for an IPO, showed impressive growth in FY24. The company’s revenue soared by over 62%, reaching Rs 875 crore, up from Rs 539 crore in FY23.
After a challenging previous year with an Rs 84 crore loss, MobiKwik turned profitable, posting a Rs 14 crore profit. This turnaround is attributed to increased revenue from loans, payment gateways, and technological platforms. Despite a 36.4% rise in costs to Rs 876 crore, MobiKwik’s financial recovery is likely to boost its IPO prospects.