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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%.
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%.
