MobiKwik Shares Fall 4% To Reach All-Time Low At INR 261.2

SUMMARY

MobiKwik made its Dalal Street debut in December last year at a listing of INR 442.25 on the BSE

However, amid the decline in the Indian equities market over the past few months, shares of MobiKwik have slipped below their IPO price

The fintech company slipped into the red in Q3 FY25, impacted by lower financial services revenue and higher lending-related costs

Update | March 11, 4:30 PM

Shares of MobiKwik ended the day’s trading 0.7% higher at INR 274.50 on the BSE.

Original | March 11, 2:55 PM

Shares of MobiKwik slumped as much as 4.18% to INR 261.2 apiece during the intraday trading on the BSE on Tuesday (March 11) to touch a fresh all-time low.

This was the third consecutive session of decline for the stock. However, it pared some of the losses to trade 1.47% lower at INR 268.60 at 2:06 PM. Its market capitalisation stood at INR 2,086.65 Cr, with as many as 19.5 Lakh shares being traded by then.

MobiKwik made its Dalal Street debut in December last year. Its shares got listed at INR 442.25 on the BSE, a premium of 59% to its issue price of INR 279.

However, amid the decline in the Indian equities market over the past few months, shares of MobiKwik have slipped below their IPO price.

The stock has declined over 5% in the last 5 sessions and nearly 23% over the last month. On a year-to-date basis, MobiKwik shares have slumped 55%.

The fintech company slipped into the red in Q3 FY25, impacted by lower financial services revenue and higher lending-related costs. It posted a consolidated net loss of INR 55.28 Cr against a net profit of INR 5.27 Cr in the year-ago quarter. Sequentially, net loss surged multifold from INR 3.59 Cr.

However, operating revenue grew 18% year-on-year to INR 269.47 Cr in Q3 FY25 from INR 228.93 Cr in the same period last year. However, it declined 7% from INR 290.64 Cr in the preceding quarter.

Going ahead, the company is looking to foray into new fintech verticals in this calendar year. The company’s most immediate focus will be on expanding MobiKwik’s spending analytics platform Lens and entering the insurance aggregator space. It has also secured the necessary licence from the Insurance Regulatory and Development Authority of India (IRDAI) which is requisite to segue into insurance distribution.

Recently, the fintech company also acquired a stake in B2B banking infrastructure company Blostem Fintech Private Limited for INR 1.5 Cr.