MobiKwik, the fintech firm based in Gurugram, reported a total revenue of Rs 267.8 crore for the fourth quarter of FY25. However, the company also faced a net loss of Rs 56 crore during the same period. This is a sharp drop compared to the minimal loss of Rs 67 lakh in Q4 FY24. For the full financial year ending March 31, 2025, MobiKwik reported a net loss of Rs 121.52 crore, reversing its previous year’s profit of Rs 14.07 crore.
MobiKwik Expenses Increase
While the company’s yearly revenue grew by 33.7% to Rs 1,192.5 crore, its total expenses surged faster, rising 49.1% year-on-year to Rs 1,271.88 crore. This outpaced revenue growth and weighed heavily on the overall financial performance. In Q4 alone, expenses jumped by 22% to Rs 324.28 crore, mostly due to higher payment gateway fees, which reached over Rs 147 crore.
Despite the losses, MobiKwik’s payments business performed strongly. Its gross merchandise value (GMV) increased 203% year-on-year, reaching Rs 1.16 lakh crore in FY25. Payment revenue also more than doubled to Rs 767.4 crore from Rs 317.1 crore in FY24. The company reduced user incentives by 62% and lowered gateway costs by 9%, helping the business achieve a 19.7% gross margin, among the best in the sector.
Credit Business Slows
MobiKwik’s credit service, especially its ZIP product, struggled during the year. ZIP disbursals dropped 41% to Rs 5,358 crore, down from Rs 9,093 crore the previous year. The company paused new ZIP user onboarding and shifted focus to longer-tenure ZIP EMI products. Financial services revenue fell 27.8% to Rs 402 crore, compared to Rs 558 crore in FY24.
MobiKwik added 4.45 million users in Q4 FY25, bringing the total to 176.4 million, marking a 13% yearly increase. It also added 0.53 million new merchants, reaching 4.59 million in total—mostly offline retailers. The company now plans to use AI to boost its growth, margins, and efficiency in the coming quarters.
