ET Soonicorns Summit: Mobikwik eyes profitability, IPO in FY25

Digital payments and financial services company Mobikwik is on track to attain full profitability and pursue a public offering in FY25, the company's cofounder Upasana Taku said.

“We are working towards achieving full profitability...while achieving strong double digit growth,” Upasana Taku, cofounder, Mobikwik, said at the ET Soonicorns Summit in New Delhi.

On October 5, Mobikwik said that it had posted its second consecutive quarterly profit during the July-September period.


Taku added that the quarterly profits being posted by the company were "sustainable".

For the quarter ended September 30, the Gurugram-based company recorded revenue of Rs 208 crore, up 17% from the previous quarter, while total profit stood at Rs 5 crore.

On a half-yearly basis, total revenue for the startup stood at Rs 385 crore, while total profit was at Rs 8 crore.

Talking about the Gurgaon-based company's initial public offering (IPO) plans, Taku said: “We are ready for an IPO…the sooner we get listed, the better it is.”

She pointed out that the company had already put in work towards making Mobikwik a public company, and that the discipline to build a sustainable business came from its discussions to go public last year.

The Rs 1,701 crore IPO of Honasa Consumer, parent of beauty and personal care brand Mamaearth, closed on Thursday and was fully subscribed. Others in the startup space are keenly watching to see how the D2C company performs after listing.