Shares of newly listed fintech firm MobiKwik fell 6.84% on January 9, closing at 573 rupees (around US$6.69) per share on the Bombay Stock Exchange (BSE), amid a broader market downturn, with the BSE Sensex down 0.68% and the Nifty 50 falling 0.69%.

The decline coincided with MobiKwik’s Q2 FY25 results, reporting a net loss of 3.59 crore rupees (around US$419,000)

This is down from a 5.22 crore rupees (around US$610,000) in the same quarter last year, though improving 45% from 6.62 crore rupees (around US$773,000) in the previous quarter.

The company achieved an EBITDA of 6.80 crore rupees (around US$816,000) during Q2, marking a 37% year-over-year decrease.

Revenue from payments business increased by 65% to 187.7 crore (around US$21.9 million), while revenue from financial services fell by 25% to 102.9 rupees (around US$12 million).