MobiKwik’s Remarkable Turnaround: Records INR 9.4 Cr Profit in H1 FY24

A Financial Triumph: MobiKwik’s Path to Profitability and IPO Aspirations


In a significant shift in its financial trajectory, MobiKwik, the IPO-bound fintech unicorn, has marked a major milestone by turning profitable in the first half of the fiscal year 2023-24. According to the details outlined in the draft red herring prospectus (DRHP), MobiKwik reported a Profit After Tax (PAT) of INR 9.4 Cr for the six-month period ending September 30, 2023. This achievement comes on the heels of net losses of INR 83.8 Cr in FY23 and INR 128.1 Cr in FY22, signaling a robust turnaround for the company.

Financial Transformation: The transformation from a net loss to a profitable entity reflects MobiKwik’s strategic initiatives and operational efficiencies. The fintech player has successfully navigated challenges and capitalized on opportunities in the dynamic financial landscape.

Operating Revenue Highlights: MobiKwik’s operating revenue for the first half of FY24 stood at a commendable INR 381 Cr, underscoring the company’s ability to generate substantial revenue streams. This positive financial performance positions MobiKwik as a formidable player in the fintech space.

IPO Aspirations: In line with its newfound profitability, MobiKwik has set ambitious goals for its Initial Public Offering (IPO). The company aims to raise INR 700 Cr through a fresh issue of shares, with no offer-for-sale component involved in the public issue. The decision to go public aligns with MobiKwik’s strategic vision and provides an opportunity for investors to be part of its growth story.

Strategic Outlook: MobiKwik’s success in achieving profitability indicates not only financial stability but also a strong foundation for future growth. The company’s ability to adapt to market dynamics, coupled with its focus on innovation, positions it as a key player in the evolving fintech landscape.


MobiKwik’s journey from losses to profits in a relatively short period reflects the resilience and adaptability of the company in a competitive market. As it sets its sights on an IPO, MobiKwik appears poised to make a significant impact on the financial sector, presenting an enticing opportunity for investors looking to be part of a successful and forward-thinking fintech venture.

Leave a comment