Mobikwik turns profitable in March quarter, expects to double revenue ...Middle East

Business Standard - Economy
Mobikwik turns profitable in March quarter, expects to double revenue
source : Business Standard ( Middle East ) () 48
Fintech platform Mobikwik turned profitable in the March quarter and expects to almost double revenue to over Rs 1,000 crore in the current fiscal along with full-year profitability, the company's co-founder Upasana Taku said. The company closed the 2022-23 financial year with a 39 per cent net revenue growth at Rs 560 crore. "In Q4 (fourth), 2023, we booked profit. Now my aim is that every quarter from now on should be a profitable quarter. We have reduced cash burn by about 40 per cent. For FY'24, we want to achieve Rs 1,000 crore revenue and Rs 40-50 crore profit," Taku told PTI. She said that 50 per cent of the company's revenue came from the distribution of digital credit products and t

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