MobiKwik continues rewarding streak for 2nd quarter in a row

Synopsis The Gurugram-based business tape-recorded profits of Rs 208 crore for the quarter ended September 30, 2023, marking a 17% dive sequentially. The business published an overall earnings of Rs 5 crore for the quarter.ETtechMobikwik cofounders Bipin Preet Singh, Upasana TakuDigital payments and monetary services business Mobikwik on Thursday stated it has actually published its 2nd successive quarterly earnings and seen development in income, driven by sharper concentrate on its credit technique. For the quarter ended September 30, Gurugram-based Mobikwik tape-recorded an earnings of Rs 208 crore, up 17% from the previous quarter, while overall earnings stood at Rs 5 crore. Raise Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitOn a half-yearly basis, overall income for the start-up stood at Rs 385 crore while overall revenue was Rs 8 crore. “We have actually been contribution-margin favorable for the last 3 to 4 years, and the factor we were mainly unprofitable was since of the interruption triggered by Covid, particularly on the credit side,” Bipin Preet Singh, cofounder and president of Mobikwik, informed ET. “These revenues represent us recovering cost, and in the future we will see high double-digit revenues as our repaired expenses ought to not scale.” Accor
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