Tech
MobiKwik’s net loss widens to Rs 55 crore as revenue growth remains flat
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Fintech startup One MobiKwik Systems, which runs payments app MobiKwik, continued to remain in the red with a consolidated net loss of Rs 55 crore in the March quarter, against Rs 52.3 crore in the December quarter.
The company reported an operating revenue of Rs 265 crore, almost flat against the Rs 268 crore reported in the December quarter. MobiKwik’s business was impacted by a slowdown in its lending operations, which reduced its contribution margins to 30% from 37% and also slowed disbursals.
Overall expenses rose 3% to Rs 323 crore in the March…
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