Mobikwik’s FY24 profit helped cut IPO size: CEO Bipin Preet Singh

Quick Summary:

Mobikwik has reduced its fixed costs from 47% to 30% of revenue and achieved improved gross margins—19% for the full FY24 and 16% in Q1 FY25.

The company has reduced its fixed costs from 47% to 30% of revenue and achieved improved gross margins—19% for the full FY24 and 16% in Q1 FY25.

The narrative seems to be working as at the time of writing this article, the retail portion of Mobikwik's IPO was already subscribed 22X, just hours after opening bids for its public issue.

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Article Details

Author / Journalist: Sayan Sen

Category: StartupsEconomyBusiness

Markets: India

Topics: Company Payments Services Privacy Fy25 Fy24 Mobikwik Financial Policy Crore Reduced

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 11:23:20 (1 days ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 414 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 16 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 24352287

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