Mobikwik turns profitable, expects to almost double revenue to Rs 1,000 crore this fiscal

Fintech platform Mobikwik turned profitable in the March quarter and expects to almost double revenue to over Rs 1,000 crore in the current fiscal along with full-year profitability, the company’s cofounder Upasana Taku said. The company closed the 2022-23 financial year with a 39% net revenue growth at Rs 560 crore.

“In Q4 (fourth), 2023, we booked profit. Now my aim is that every quarter from now on should be a profitable quarter. We have reduced cash burn by about 40%. For FY’24, we want to achieve Rs 1,000 crore revenue and Rs 40-50 crore profit,” Taku told PTI.