MobiKwik Q4FY25 Earnings Result: GMV Surged Over 200%, Modest Revenue Growth

On May 20, 2025, MobiKwik share price is on investors’ radar as the digital wallet platform provider released its results for the Q4FY25 and FY25. During the period, MobiKwik continues to build on its strong growth trajectory, with exponential gains in its Payments Gross Merchandise Value (GMV). This growth has been fuelled by high user adoption, innovative product development, and the consistent expansion of its merchant ecosystem.

MobiKwik Q4FY25 Result Highlights

During Q4FY25, MobiKwik expanded its user base to 176.4 million, onboarding 4.4 million new users during the period. Simultaneously, the merchant network grew to 4.59 million, with 76,000 new merchants added in Q4 alone. The Payments business delivered robust results, with GMV rising 2.3x year-over-year to ₹33,100 crore. Payment revenue also doubled YoY, reaching ₹211.6 crore. MobiKwik further strengthened its market leadership by achieving a best-in-class gross margin of 24%—a 26% improvement quarter-over-quarter.

Financially, the company reported total income of ₹278.5 crore for Q4 FY25, a modest increase from ₹271.6 crore in the same quarter last year. EBITDA stood at a loss of ₹45.8 crore, primarily driven by a lower contribution margin, though fixed costs saw a 5.4% reduction QoQ. This cost optimisation was the result of improved digital processes, scale efficiencies, and disciplined expense management across operations.

MobiKwik FY25 Earnings Result

For FY25, MobiKwik delivered strong results across key financial metrics. Payments GMV surged 203% YoY to ₹1,15,900 crore, while gross margins remained healthy at over 20%, thanks to optimised gateway costs and rationalised user incentives. Total income for the year rose to ₹1,192.5 crore, reflecting a 34% YoY growth, with payments revenue alone increasing by 142%.

The contribution margin ended the year at 30%, influenced by a greater share of revenue coming from the payments business, and lower income from the distribution of financial products, largely due to macroeconomic headwinds in the lending sector. The company posted an EBITDA loss of 6.7%, attributed to the revenue mix shift and slightly elevated fixed costs year-over-year.

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MobiKwik Outlook

Looking ahead, MobiKwik remains optimistic about its path to profitability. Historically, the company has demonstrated positive EBITDA in quarters where contribution margins exceeded 30%. With a strong base in payments, renewed focus on financial services, and continued cost discipline, the company expects to recover its contribution margins and return to profitability in the near term.

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