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MobiKwik losses mount to Rs 203 cr in FY18

3 January, 2019 2:39 PM
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MobiKwik losses mount to Rs 203 cr in FY18

Digital payments company MobiKwik saw its consolidated total loss widen to Rs 202.98 crore in the fiscal ended March 2018, according to documents filed with the corporate affairs ministry.

The company, which competes with mobile wallet players like Paytm, had posted a total consolidated loss of Rs 132.8 crore in 2016-17.

The consolidated revenue, however, increased 93.1 percent to Rs 85.65 crore in FY2018 from Rs 44.35 crore in the preceding financial year, showed the documents, accessed by business intelligence platform Tofler.

On a standalone basis, MobiKwik saw its losses mounting to Rs 203.25 crore, while revenue was higher at Rs 69.28 crore for the financial year ended March 2018.

According to the documents, the company saw its employee benefit expense (on standalone basis) increase to Rs 49.28 crore in FY2018, from Rs 26.17 crore in the previous fiscal.

Source: moneycontrol.com

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