MobiKwik's Sombre Q4, Nazara's Acquisition Spree & More

Staganation Bites MobiKwik’s Q4

MobiKwik has reported a sombre Q4 FY25. The fintech major’s net loss zoomed 83.5X YoY to INR 56.03 Cr while operating revenue remained flat, up a mere 1% YoY to INR 267.78 Cr in the March quarter.

Here are the key takeaways from MobiKwik’s Q4 FY25 financials:

• Including other income of INR 10.74 Cr, MobiKwik’s total revenue stood at INR 278.52 Cr
• MobiKwik’s total expenses jumped 22% YoY to INR 324.28 Cr in Q4
• For the full FY25, the fintech platform slipped into the red with a loss of INR 121.53 Cr against a
• Top line grew 33.7% YoY to INR 1,170.2 Cr in FY25

Behind The Soaring Losses: The fintech bloated its losses due to a decline in its financial services revenues and low contribution margins generated from the lending vertical. Its rising expenses further pummeled the company’s bottom line.

Lending Became A Burden: The company blamed its fledgling lending business for its poor show during the quarter. Besides, macroeconomic factors, accounting changes, and the shift to the default loss guarantee model took a toll on the company’s top and bottom lines.

However, CFO Upasana Taku anticipates the situation to stabilise and the lending business to return to the level of 40% overall gross margins in the next 2-3 quarters.

MobiKwik Spins The Revenue Wheel: Not everything is gloomy. The fintech is trying to by balancing its lending portfolio with new products, including secured loans, digital payments, online discount broking, while strategically lining up plans to foray into insurance broking and wealthtech.

While it is clear that the subdued financial performance of MobiKwik may not bode well for the company’s stock, currently trading nearly 38% lower than its listing price of INR 442.25 on the BSE, let’s take a look at .

From The Editor’s Desk

: Nazara has secured board approval to acquire London-based Curve Digital in an all-cash deal worth INR 248 Cr. The acquisition will open up new avenues for Nazara across platforms, genres, and regions in the global PC and console gaming space.

: Shashank Randev and Yagnesh Sanghrajka have banded together to launch a new VC firm, 247VC. The firm’s inaugural $30 Mn fund will back founders across sectors like deeptech, enterprise tech, and industry 5.0.

: The AI-powered cybersecurity solutions platform has raised the funding from a clutch of investors, including MassMutual Ventures, Inflexor Ventures and Prana Ventures. The round saw CloudSEK’s valuation jump 5X to $120 Mn.

: Lathika Pai has filed a civil suit against the company in the Delhi High Court, alleging she was forced to resign from Microsoft in July 2024 due to “intimidation, retaliation, and a hostile work environment”. She is seeking INR 35 Cr in damages.

: The Supreme Court has questioned the Centre’s delay in formulating cryptocurrency regulations. The top court also observed that the current taxation of crypto profits at 30% implied a form of legal recognition.

The listed EV maker’s board is set to meet on May 22 to consider a proposal to raise funds via the issuance of non-convertible debentures. This comes amid a decline in the company’s stock price and mounting regulatory scrutiny.

: Doubling down on India, Apple’s vendor Foxconn has invested $1.48 Bn in its Tamil Nadu-based unit. The Taiwanese contract manufacturer bought 9,999 shares in Yuzhan Technology, its India entity in Tamil Nadu, via its Singapore entity.

: While the listed giant’s food delivery vertical continues to mint profits, the quick commerce arm seems to be burning a hole in its pockets. With Swiggy now standing at a crossroads, it’s almost make-or-break time for its big bet on quick commerce.

Inc42 Startup Spotlight How Ivory Is Making Brain Health A Priority For Indians

In India, nearly 30 Mn people are estimated to have mild cognitive impairment, a condition that can gradually progress to dementia in about 15% of cases. Realising that this was a brewing health crisis, Issac John and Rahul Krishnan sat down to build Ivory.

Ivory’s Building Blocks: The Bengaluru-based startup uses neuroscience-based assessments and interactive games to enable early detection and intervention in cognitive health. The startup primarily targets users in their 40s and 50s, enabling them to screen for cognitive issues long before they become critical.

The healthtech startup also provides personalised consultations and health checkups and has roped in seasoned psychologists, neuroscientists and doctors as its advisors.

Ivory’s Mental Health Model: Ivory’s cognitive assessments are currently accessible through a diverse group of clinicians, including psychiatrists and general physicians. The startup claims to have completed over 15,000 cognitive profiles so far and enjoys a user base of more than 40K individuals.

What’s Next For Ivory?: Available on Google Play Store and the Apple Store, the startup’s mobile app has so far seen about 10K downloads. Going forward, Ivory has set its eyes on deepening its clinical footprint, enhancing its assessment capabilities and investing heavily in R&D.

Operating in the broader $2 Bn Indian mental health market,

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