MobiKwik Q3 Results: Stock jumps 17% after reporting a net profit with 2.4% margin

Shares of digital payments firm Mobikwik surged 16% after the company reported a sharp turnaround in its December-quarter earnings.

Mobikwik reported a net profit of ₹4 crore, a reversal from a net loss of ₹55.2 crore in the same period last year.

Revenue for the quarter rose 7.4% year-on-year to ₹289 crore, compared with ₹269.4 crore in the previous year.

Operating performance saw an improvement, with EBITDA coming in at ₹6.8 crore, compared to an EBITDA loss of ₹47.6 crore a year ago. EBITDA margin for the quarter stood at 2.4%.