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Mobikwik losses surge 6X in Q1 FY26

EntrackrEntrackr · 16d ago
Mobikwik losses surge 6X in Q1 FY26
Medial

Mobikwik losses surge 6X in Q1 FY26 Fintech platform MobiKwik reported its quarterly results for the first quarter of the ongoing fiscal year (FY26), with revenue declining 20.8% year-on-year and losses rising over six-fold. MobiKwik’s revenue from operations decreased by 20.8% to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25. Commissions on recharges, processing, and interest on servicing loans, payment gateways, as well as platform fees were the primary revenue sources for MobiKwik in Q1 FY26. The company has 180.2 million registered users and 4.64 million merchants at the end of the first quarter (FY26). For the payments platform, payment gateway costs accounted for the largest expense, making up 46% of the total cost of Rs 143 crore in Q1 FY26. Employee benefit expenses stood at Rs 42 crore, while lending fees amounted to Rs 29 crore. MobiKwik’s financial guarantee, legal, advertising-marketing, finance, and other overheads took its total burn to Rs 313 crore in Q1 FY26. MobiKwik’s losses rose over six-fold to Rs 42 crore in Q1 FY26, compared to Rs 6.6 crore in the same quarter last year. For the fiscal year ended in March 2025, it reported a net loss of Rs 121.5 crore. Earlier this month, Mobikwik received approval from SEBI to operate as a stockbroker and clearing member through its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL). At the end of Thursday's session, Mobikwik’s stock was trading at Rs 246.80 with a total market capitalization of Rs 1,929 crore or approximately $227 million.

First chip from Dholera plant by 2026 end: PSMC chairman Frank Huang

Economic TimesEconomic Times · 1y ago
First chip from Dholera plant by 2026 end: PSMC chairman Frank Huang
Medial

The Tata Group and Powerchip Semiconductor Manufacturing Corporation (PSMC) are partnering to set up a semiconductor chip manufacturing plant in Gujarat. The first chip is expected to be ready by the end of 2026. The joint venture (JV) between the two companies is focused on technology transfer at the moment, with investment plans to be discussed later. The Indian government is estimated to subsidize up to 70% of the project cost. The Dholera unit is set to become India's first commercial semiconductor fab. The plant will start with manufacturing 28nm chips and will gradually move towards higher-end chips. The partnership was chosen due to the Tata Group's financial capabilities and government subsidies. The Taiwanese company was approached by the Indian government in 2022 and had discussions with other conglomerates as well. The project is seen as a significant step for India's growth in the manufacturing and chip space.

Indiqube posts Rs 309 Cr revenue in Q1 FY26; controls losses

EntrackrEntrackr · 3d ago
Indiqube posts Rs 309 Cr revenue in Q1 FY26; controls losses
Medial

Indiqube posts Rs 309 Cr revenue in Q1 FY26; controls losses Managed workspace solutions provider Indiqube has posted its quarterly results for the first time since being listed on NSE on July 30, 2025. The company grew 27% while controlling its losses in the first quarter of the ongoing fiscal year (Q1 FY26). The company’s revenue from operations rose to Rs 309 crore in Q1 FY26 from Rs 242 crore in Q1 FY25, according to its financial statement sourced from the National Stock Exchange (NSE). IndiQube reported a total income of Rs 324 crore in Q1 FY26, a significant increase from Rs 251 crore in Q1 FY25. This growth was largely driven by Rs 15 crore earned from other income during the quarter. The company did not disclose a revenue breakdown for the quarter. On the expense side, employee benefits increased 18% to Rs 20 crore in Q1 FY26. Finance cost accounted for 29% of the expense which increased 49% to Rs 110 crore in Q1 FY26 from Rs 74 crore in Q1 FY25, while depreciation and amortization rose to Rs 143 crore. Overall, Indiqube’s total expenses for the quarter increased 29% to Rs 374 crore from Rs 290 crore in Q1 FY25. At the end, the firm reported a 12% decrease in its loss to Rs 37 crore in Q1 FY26 as compared to Rs 42 crore in Q1 FY25. However, due to finance and depreciation accounting for nearly 68% of the expense, Indiqube reported positive EBITDA of Rs 203 crore in Q1 FY26. On a unit basis, the company spent Rs 1.21 to earn a rupee of operating revenue. We have reported numbers according to the Indian Accounting Standards whereas for IGAAP Eq. revenue and profit stood at Rs 313 crore and Rs 19 crore respectively for the quarter Q1 FY26. Indiqube Spaces’ Rs 700 crore IPO, comprising a Rs 650 crore fresh issue and Rs 50 crore offer for sale, was open from July 23–25, 2025, at a price band of Rs 225–Rs 237 per share. The company raised Rs 374 crore from anchor investors at the upper band before the issue, which was oversubscribed 12.41 times overall. Despite a grey market premium indicating a possible 4–10% listing gain, the shares debuted weak on July 30, 2025, listing at Rs 216 on the NSE and Rs 218.70 on the BSE at an 8.9% and 7.7% discount to the issue price, respectively. Currently, Indiqube’s share price is trading at Rs 219.81, giving it a total market capitalization of Rs 4,634 crore (about $528 million).

Sitharaman's budget next month to lay out economic roadmap of Modi 3.0

YourStoryYourStory · 1y ago
Sitharaman's budget next month to lay out economic roadmap of Modi 3.0
Medial

Finance Minister Nirmala Sitharaman is expected to outline the Indian government's economic agenda in the upcoming annual budget presentation. With a focus on boosting growth and managing inflation, the agenda includes fast-tracking reforms to turn India into a $5 trillion economy and ensuring fiscal stability. The government aims to address challenges in the agriculture sector, create jobs, sustain capital expenditure, and increase revenue growth. The Reserve Bank of India has projected a 7.2% economic growth rate for the current fiscal year. The Modi government has received positive ratings for its economic policies, but faces challenges in areas such as non-tax revenue, strategic disinvestment, banking sector reforms, and tax rate rationalization for GST. Finance Minister Sitharaman is the first full-time woman finance minister in independent India.

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