One MobiKwik Systems Q1 loss widens to ₹42 cr; revenue declines 20.7% to ₹271 cr
The Gurgaon-headquartered firm's revenue from operations stood at ₹ 271.3 crore, a 20.7 per cent decline from ₹ 342.2 crore in Q1 FY25, as per a regulatory filing.
Seen sequentially, losses narrowed from ₹ 56 crore in Q4 FY25, while revenue saw an uptick of 1.3 per cent.
Total expenses were at ₹ 312.8 crore during the first quarter of FY26, compared with ₹ 343.6 crore in the same period last year. Payment gateway costs grew to ₹ 142.8 crore, up from ₹ 127.6 crore, while employee benefit expenses stood at ₹ 41.9 crore, reflecting a modest increase from ₹ 39.1 crore in the year-ago quarter.
The company, which concluded its IPO during the quarter ended December 31, 2024, stated that it has utilised ₹ 214 crore of its net IPO funds as of June 30, 2025, out of a total corpus of ₹ 530.5 crore.
The proceeds were used towards funding organic growth in financial services business ( ₹ 45.9 crore), funding organic growth in payment services business ( ₹ 69.9 crore), R&D in data, machine learning, artificial intelligence, product and technology ( ₹ 30.8 crore), capital expenditure payment devices business ( ₹ 2.4 crore), and general corporate purposes.
MobiKwik said it recorded the "highest-ever" quarterly payments GMV (Gross Merchandise Value) in Q1 FY26 at ₹ 38,388.2 crore.
The company's user base stood at 180.2 million and merchant base at 4.64 Mn in Q1 FY26.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
an hour ago
- The Print
Trump tariffs to hit less than half of India's exports; trade talks on; no compromise on agri, dairy
For the sixth round of talks, the US team is coming to India on August 25. New Delhi continues to be engaged in talks with the US to work out a trade deal, but will make no compromise on agricultural, daily and genetically modified (GM) products, sources said on Friday. New Delhi, Aug 1 (PTI) The US on Friday slapped a 25 per cent tariff on India, potentially impacting about half of the USD 86 billion Indian exports to America, while the other half, including pharmaceuticals, electronics, and petroleum products, continued to be exempted from the levy. The sectors, which would bear the brunt of 25 per cent duty include textiles/ clothing (10.3 billion), gems and jewellery (12 billion), shrimp (USD 2.24 billion), leather and footwear (USD 1.18 billion), animal products (USD 2 billion), chemicals (2.34 billion), and electrical and mechanical machinery (about USD 9 billion). According to sources, about half of the goods exported from India to the US are in the exemption category (such as pharma and electronic goods). So, the impact will be only on the remaining half. 'More than half of India's exports to the US will not be impacted by the duty. Due to the Section 232 exemption of the US, only exports worth about USD 48 billion would be impacted with these tariffs,' they said, adding that the remaining exports will have a little impact on a country with a GDP of about USD 4 trillion and a consumer base of 140 crore. In 2024-25, the bilateral trade between India and the US stood at USD 131.8 billion (USD 86.5 billion exports and USD 45.3 billion imports). According to think tank GTRI, the 25 per cent tariffs will not be applicable on the exempted categories, including pharmaceutical; energy products such as crude oil, refined fuels, natural gas, coal, and electricity; critical minerals; and a wide range of electronics and semiconductors, like computers, tablets, smartphones, solid-state drives, flat panel displays, and integrated circuits. US President Donald Trump unveiled sweeping new tariffs on dozens of countries, including 25 per cent duties for goods from India, marking a new era of American protectionism that triggered fresh tensions and concerns over a much wider disruption in the global trade landscape. There is no mention of a penalty on India for buying crude oil and military equipment from Russia. 'We are keeping our fingers crossed on the issue, as there is no mention of penalty in the order,' sources added. The US president signed an executive order that raised tariffs for over five dozen countries, with Washington's negotiations for trade deals going down to the wire ahead of the August 1 deadline. In the Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', Trump announced tariff rates for nearly 70 nations. These tariffs will come into effect from August 7. The announcement of duty and penalty is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union. India's exports of petroleum products like diesel and jet fuel to the US continue to be exempted from the levy of any import duty or tariff, and Trump has, for now, not indicated the penalty he plans to impose to deter New Delhi's energy trade with Russia. According to official data, India exported 4.86 million tonnes of petroleum products to the US in 2024-25 (April 2024 to March 2025) for over USD 4 billion. Reliance Industries Ltd is the biggest exporter of fuel to the US. With fuel exports continuing to be on the exemption list, it means business as usual for India and companies like Reliance, analysts said. Meanwhile, export sectors that will be impacted by the tariff have urged immediate intervention by the government on the matter. Sudhir Sekhri, Chairman, AEPC (Apparel Export Promotion Council), said: 'We request immediate government intervention to offset this huge setback. Exporters have their back against the wall and will have to sell below cost to keep their factories running and avoid mass layoffs'. Indian shrimp exporters face an unprecedented new challenge in the US market, which contributes close to 48 per cent of their exports, Crisil Ratings Senior Director Rahul Guha said. Exporters are hoping that early finalisation of the India-US bilateral trade agreement will help in dealing with the tariff challenges. The negotiations between India and the US are still going on for an interim trade deal, though there will be no compromise on the red lines with regard to duty concessions on agriculture items, dairy, and genetically modified (GM) products, sources said. The two countries are negotiating a bilateral trade agreement (BTA). They are aiming to conclude the first phase of the pact by fall (October-November) this year. The two nations are also looking at an interim trade deal before the first tranche. The government will protect the interests of farmers in trade negotiations with the US, Agriculture Minister Shivraj Singh Chouhan has said. The agriculture sector is politically sensitive for India, as about 700 million rural livelihoods are dependent on it. Lowering duties would also pose a risk to national food security. On Thursday, Commerce and Industry Minister Piyush Goyal — in a suo motu statement in both the houses of Parliament — had said India will take all necessary steps to safeguard and promote national interest. PTI RR ANZ RR BAL BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
an hour ago
- Hindustan Times
‘It will impact states': Karnataka CM after US imposes 25 percent tariff and penalty on India
Karnataka Chief Minister Siddaramaiah on Friday said that the United States' decision to impose a 25 per cent tariff, along with an additional penalty on India for importing oil from Russia, would affect not just the nation but also the individual states. Trump signed a fresh executive order imposing revised tariffs for 70 countries, including India and Pakistan, in a move that is expected to strain global trade relations further.(PTI) "It will impact the state also, and the whole country at large. I will discuss this issue with the concerned Minister," the Chief Minister told reporters. Karnataka Minister Priyank Kharge expressed concern over the development, saying he hoped the central government would re-engage in dialogue with the United States to mitigate the tariff hike. Priyank Kharge said, "This is something that we might have to live with, but we'll see how it impacts. I'm hopeful that the central government will get its act together, get to the negotiating table, and do something practical that ensures the business thrives as usual. Hopefully, this time they'll be able to convince their friend Donald Trump to ensure that the tariffs are not this huge." US President Donald Trump on Wednesday made a shocking statement on his social media platform Truth Social after the announcement of 25 per cent tariffs against India and threatened an additional "penalty" for importing Russian oil. "I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India; their tariffs are too high, among the highest in the world." Trump said. Trump signed a fresh executive order imposing revised tariffs for 70 countries, including India and Pakistan, in a move that is expected to strain global trade relations further. Tariffs imposed on India's neighbouring countries are less than India's 25 per cent, except for Myanmar at 40 per cent. The new tariffs for Pakistan, Afghanistan, Bangladesh, Indonesia, Japan, and Sri Lanka are 19%, 15%, 20%, 19%, 15%, and 20%, respectively. The new tariffs, outlined in a sweeping order signed on Friday (IST), will come into effect from 12:01 a.m. Eastern Daylight Time on August 7. The executive order states that the revised tariffs are aimed at addressing the national emergency declared earlier under Executive Order 14257. Trump noted that he had "recently received, among other things", new information and had determined it "necessary and appropriate" to impose additional ad valorem duties on the goods of certain trading partners. These new duties will replace those previously imposed under the same order, as amended. Other countries on which the US imposed tariffs are higher than India include Iraq (35 per cent), Laos (40 per cent), Libya (30 per cent), Serbia (35 per cent), South Africa (30 per cent), Switzerland (39 per cent), and Syria (41 per cent). Countries that imposed lower tariffs than India include the UK (10 per cent), Vietnam (20 per cent), Taiwan (20 per cent ), and South Korea (15 per cent), to name a few. The order by Trump stated, "I have determined that it is necessary and appropriate to deal with the national emergency declared in Executive Order 14257 by imposing additional ad valorem duties on goods of certain trading partners".The executive order further directs that these changes will apply to goods entering the US for consumption or withdrawn from warehouses on or after the effective date. However, goods already in transit before the deadline, loaded on vessels and en route before August 7 and entering the US before October 5, 2025, will not be subjected to the revised duties but will instead continue under the previously applicable tariff rates under the amended Executive Order 14257. The government told the Parliament on Thursday that it is examining the impact of the recent events and will take all necessary steps to safeguard the national interest. Commerce and Industry Minister Piyush Goyal made a statement in the lower House of Parliament a day after Trump announced the tariff. He later made a similar statement in the Rajya Sabha. Goyal said the Ministry of Commerce and Industry is holding talks with exporters, industries and all stakeholders and gathering information on their assessment of this issue.
Time of India
9 hours ago
- Time of India
India-US trade: Union minister Piyush Goyal to hold talks on August 2–4 with exporters in Mumbai, key sectors flag urgent concerns amid 25% Trump tariffs
Commerce and Industry minister Piyush Goyal will meet exporters from sectors including food processing, textiles, engineering, and chemicals in Mumbai from August 2-4 to discuss the implications of the 25% tariff announced by the United States, an industry official said on Friday. Exporters from fisheries, IT, pharma, and engineering will also participate in the meetings. A separate meeting with leather sector exporters is scheduled for August 4 in New Delhi, PTI reported. The US on Friday imposed a 25% tariff on Indian goods, potentially affecting about half of the country's $86-billion exports to the American market. The remaining half, including pharmaceuticals, electronics, and petroleum products, remains exempt. India continues to hold discussions with the US to finalise a trade deal. However, sources said New Delhi would not compromise on issues related to agricultural, dairy, or genetically modified (GM) products. The sixth round of negotiations is scheduled for August 25 in India. Key export sectors expected to be affected by the new tariff include textiles and clothing ($10.3 billion), gems and jewellery ($12 billion), shrimp ($2.24 billion), leather and footwear ($1.18 billion), animal products ($2 billion), chemicals ($2.34 billion), and electrical and mechanical machinery (around $9 billion). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Does It Cost to Rent a Private Jet - The Prices May Surprise You! Private Jet I Search Ads Learn More Undo In 2024–25, India-US bilateral trade stood at $131.8 billion, with Indian exports at $86.5 billion and imports at $45.3 billion. Exporters from the impacted sectors have called for immediate government support. 'We request immediate government intervention to offset this huge setback. Exporters have their back against the wall and will have to sell below cost to keep their factories running and avoid mass layoffs,' said Sudhir Sekhri, Chairman, Apparel Export Promotion Council (AEPC). Rahul Guha, Senior Director at Crisil Ratings, said Indian shrimp exporters face an unprecedented challenge in the US market, which accounts for nearly 48% of their shipments. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
