India, May 25 -- When MobiKwik listed last December, it was at the tail end of a cycle for startup IPOs that has not yet revived. Nevertheless, it was seen as a coming of age for the Delhi NCR-based fintech company.

Six months later though, some of the statements saying that MobiKwik has matured could be labelled as overenthusiastic. If anything, MobiKwik's problems mirror that of Paytm in 2024, and after its Q4 results, the company finds itself deeper in the red.

MobiKwik reported a net loss of INR 121.53 Cr for the full year (FY25) as against a net profit of INR 14.1 Cr in the previous year. Naturally, there were a lot of questions from analysts and observers in the wake of the weak results and generally poor quarter from the bottom l...