India’s largest digital wallet company MobiKwik reported total income of ₹293.7 crore for Q2FY25, marking a 42 per cent year-over-year growth in its first quarterly results since listing. The company announced these figures in its financial results for the quarter ended September 30, 2024, released on January 7, 2025.

The fintech firm’s payments business showed significant expansion, with Payments GMV (Gross Merchandise Value) rising 267.3 per cent year-over-year to ₹28,300 crore. The company achieved an EBITDA of ₹6.804 crore but recorded a net loss of ₹3.594 crore, which it attributed to ongoing business investments.

MobiKwik strengthened its market position as India’s largest digital wallet with a 23 per cent market share in PPI wallet gross transaction value. The company added approximately 60 lakh new users during the quarter, bringing its total registered user base to 16.7 crore. Its merchant network expanded by 1.4 lakh to reach 44 lakh merchants.

The company’s contribution margin improved to 40 per cent of total income in Q2FY25, up from 37 per cent in the same quarter last year. Payments revenue showed substantial growth, increasing 181.3 per cent year-over-year to ₹188.7 crore, with the payments gross margin reaching 19.2 per cent.