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One Mobikwik Q4 Review: Dolat Capital Maintains 'Buy', Cuts Target Price On Slow Recovery In Fin. Services
Dolat Capital maintains ‘Buy’ rating with revised target price of Rs 500 on One Mobikwik.
21 May 2025, 11:09 AM IST 
One Mobikwik Systems Ltd.'s reported revenue of Rs 2,618 million, a decline of 0.6% QoQ (estimate:+9%), due to steeper-than-expected rampdown in BNPL disbursals.
(Image source: Envato)
One Mobikwik's financial Services revenue declined 23%/64.6% QoQ/YoY due to continued scale down in small ticket BNPL (ZIP) biz., and BNPL’s gross merchandise value declined 50% QoQ. However, lender comfort is relatively better in longer tenure ZIP EMI, where GMV posted a robust 32.5% QoQ growth.
