One MobiKwik Systems Ltd. reported a sharp sequential jump in profit for the June quarter, even as revenue and operating profit declined.
Consolidated net profit rose 76.7% quarter-on-quarter to Rs 7.6 crore from Rs 4.3 crore in the March quarter. Revenue from operations, however, declined 2.5% sequentially to Rs 281 crore, compared with Rs 289 crore in the previous quarter.
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Reported EBITDA fell 9.8% quarter-on-quarter to Rs 15.7 crore from Rs 17.4 crore, indicating some pressure on operating performance despite the improvement in bottom-line profitability.
One MobiKwik Systems Ltd. is a digital payments and financial services company that operates the MobiKwik wallet and offers products across credit, insurance, investments and merchant payments through its platform.
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