The share price of fintech firm MobiKwik, which reported a net loss in the first quarter of the current financial year (FY) 2024-25, surged after getting listed today following its IPO, giving investors massive returns after an impressive listing gain of 58.5 percent.
The company, which reported a net loss of Rs 6.6 crore in the first quarter of the current financial year (FY) 2024-25, compared to a Rs 3 crore profit in the same quarter in the previous financial year (FY24), was listed at Rs 442.25 on BSE and at Rs 440 on NSE.
MobiKwik had fixed the price band of Rs 265-Rs 279 per equity share of face value Rs 2 each for its maiden IPO.
MobiKwik share price crossed Rs 500 mark after IPO listing gain
Even after the listing gain, the share price of the fintech firm surged and reached Rs 503.40, giving a single-day return of over 80 percent.
So far today, the share price reached a maximum of Rs 525.
Company’s operating income decline
Earlier, the company reported that the operating income stood at Rs 342.2 crore during the April-June period of the current financial year. If the other income of Rs 3.5 crore is included, then the total income of MobiKwik during the review period was Rs 345.8 crore.
The company’s operating income was Rs 875 crore in FY24 and Rs 539.5 crore in FY23.
Though the share price of MobiKwik surged after an impressive listing gain following its IPO, in the first quarter of FY25, Rs 343.6 crore was spent by the company. During this period, MobiKwik spent Rs 127.6 crore on the payment gateway, Rs 39.2 crore for employee benefits, and Rs 33.7 crore for business promotion.
Apart from this, the lending operational cost of the company stood at Rs 93.4 crore in the April-June period.
The company’s expenditure in FY24 was Rs 853 crore, and in FY23, it was Rs 617 crore.
MobiKwik was founded by Bipin Preet Singh and Upasana Taku in 2019. It is a digital banking platform that provides services to customers and merchants.
