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Time of India
01-08-2025
- Business
- Time of India
One MobiKwik Systems Q1 Results: loss widens to Rs 42 crore; revenue declines 21% YoY
Fintech firm One MobiKwik Systems has reported its consolidated loss widening to Rs 41.9 crore in the June quarter, compared to a loss of Rs 6.6 crore in the same period last year. The Gurgaon-headquartered firm's revenue from operations stood at Rs 271.3 crore, a 20.7 per cent decline from Rs 342.2 crore in Q1 FY25, as per a regulatory filing. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Design Thinking Cybersecurity Data Science Artificial Intelligence MBA Leadership Finance Digital Marketing Project Management Data Analytics others MCA CXO Product Management Degree Others Technology PGDM healthcare Operations Management Healthcare Data Science Management Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo Seen sequentially, losses narrowed from Rs 56 crore in Q4 FY25, while revenue saw an uptick of 1.3 per cent. Total expenses were at Rs 312.8 crore during the first quarter of FY26, compared with Rs 343.6 crore in the same period last year. Payment gateway costs grew to Rs 142.8 crore, up from Rs 127.6 crore, while employee benefit expenses stood at Rs 41.9 crore, reflecting a modest increase from Rs 39.1 crore in the year-ago quarter. The company, which concluded its IPO during the quarter ended December 31, 2024, stated that it has utilised Rs 214 crore of its net IPO funds as of June 30, 2025, out of a total corpus of Rs 530.5 crore. Live Events The proceeds were used towards funding organic growth in financial services business (Rs 45.9 crore), funding organic growth in payment services business (Rs 69.9 crore), R&D in data, machine learning, artificial intelligence, product and technology (Rs 30.8 crore), capital expenditure payment devices business (Rs 2.4 crore), and general corporate purposes. MobiKwik said it recorded the "highest-ever" quarterly payments GMV ( Gross Merchandise Value ) in Q1 FY26 at Rs 38,388.2 crore. The company's user base stood at 180.2 million and merchant base at 4.64 Mn in Q1 FY26. "We are pleased with the consistent progress across our core business. Payments demonstrated strong growth, and Financial Services recovered, resulting in an improved Q1 EBITDA, which reinforces our path to profitability. We remain focused on driving operating leverage and building for long-term value creation," said Upasana Taku, Executive Director, Co-founder and CFO, One MobiKwik Systems Ltd. PTI
Time of India
30-07-2025
- Business
- Time of India
Tariff worries trigger rupee's steepest fall in nearly three months
The Indian rupee posted its steepest one-day drop since May and hit a five-month low on Wednesday, hurt by worries over steep U.S. tariffs on Indian exports alongside dollar demand from foreign banks and importers. The rupee hit a low of 87.5125 against the U.S. dollar before closing at 87.42, down 0.7% on the day. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Digital Marketing Project Management Data Analytics MBA Data Science PGDM Healthcare Leadership Finance healthcare Others Management Operations Management others Technology CXO Artificial Intelligence Cybersecurity Data Science Degree Product Management Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Traders said that while the Reserve Bank of India likely stepped in to support the local currency, the intervention was not very aggressive. A 20%-25% tariff may be imposed on India's exports in the absence of a trade deal and as the Asian country holds off on offering fresh concessions ahead of Friday's deadline, Reuters reported on Tuesday. U.S. President Donald Trump said on Tuesday that a trade deal with India had not been finalised and higher tariffs were possible. Live Events Trump's tariff threats, the psychological impact of the rupee breaching the 87 mark, and urgency among importers to hedge before the August 1 deadline has weighed on the rupee, said Dilip Parmar, a foreign exchange analyst at HDFC Securities. If conditions remain the same, the rupee could fall below 88 in the coming weeks, Parmar said. The local unit had hit an all-time low of 87.95 in February. In addition to trade uncertainty, persistent foreign portfolio outflows have also been a pain point for the rupee. Overseas investors have net sold over $1.5 billion of local stocks in July. Caution among importers and the absence of inflows have kept the currency under pressure and that may persist in the near-term, a trader at a foreign bank said. Meanwhile, Asian currencies were trading mixed and the dollar index was little changed at 98.8 as investors await the Federal Reserve's policy decision later in the day. The Fed is widely expected to keep rates unchanged, with the focus on commentary from Chair Jerome Powell and whether the decision is unanimous.
Time of India
26-07-2025
- Politics
- Time of India
Israeli gunshots, strikes kill at least 25 in Gaza, some while seeking aid
Israeli airstrikes and gunshots overnight killed at least 25 people, according to Palestinian health officials and the ambulance service on Saturday, as ceasefire talks appear to have stalled and Gaza faces famine. The majority of victims were killed by gunfire as they waited for aid trucks close to the Zikim crossing with Israel, said staff at Shifa hospital, where the bodies were brought. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Leadership Artificial Intelligence Finance Data Science others healthcare Digital Marketing Healthcare Management Cybersecurity MBA Design Thinking Others Degree Product Management Data Science CXO PGDM Data Analytics Project Management Technology MCA Operations Management Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Israel's army didn't respond to a request for comments about the latest shootings. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo Those killed in strikes include four people in an apartment building in Gaza City, among others, hospital staff and the ambulance service said. The strikes come as ceasefire talks between Israel and Hamas have hit a standstill after the US and Israel recalled their negotiating teams on Thursday, throwing the future of the talks into further uncertainty. Live Events Israeli Prime Minister Benjamin Netanyahu said Friday his government was considering "alternative options" to ceasefire talks with Hamas. His comments came as a Hamas official said negotiations were expected to resume next week and portrayed the recall of the Israeli and American delegations as a pressure tactic. Egypt and Qatar, which are mediating the talks alongside the United States, said the pause was only temporary and that talks would resume, though they did not say when. Experts and the UN warn of famine For desperate Palestinians, a ceasefire can't come soon enough. The United Nations and experts say that Palestinians in Gaza are at risk of famine, with reports of increasing numbers of people dying from causes related to malnutrition. While Israel's army says it's allowing aid into the enclave with no limit on the number of trucks that can enter, the UN says it is hampered by Israeli military restrictions on its movements and incidents of criminal looting. The Zikim crossing shootings come days after at least 80 Palestinians were killed trying to reach aid entering through the same crossing. Israel's military said at the time its soldiers shot at a gathering of thousands of Palestinians who posed a threat, and that it was aware of some casualties. During the shootings Friday night, Sherif Abu Aisha said people started running when they saw a light that they thought was from the aid trucks, but as they got close, they realised it was from Israel's tanks. That's when the army started firing on people, he told The Associated Press. He said his uncle, a father of eight, was among those killed. "We went because there is no food ... and nothing was distributed," he said. Israel is facing increased international pressure to alleviate the catastrophic humanitarian crisis in Gaza . More than two dozen Western-aligned countries and over 100 charity and human rights groups have called for an end to the war, harshly criticising Israel's blockade and a new aid delivery model it has rolled out. The charities and rights groups said even their own staff were struggling to get enough food. For the first time in months, Israel said it is allowing airdrops, requested by Jordan. A Jordanian official said the airdrops will mainly be food and milk formula. British Prime Minister Keir Starmer wrote in a newspaper article on Saturday that the UK was "working urgently" with Jordan to get British aid into Gaza. Aid group the World Central Kitchen said on Friday that it was resuming limited cooking operations in Deir al-Balah after being forced to halt due to a lack of food supplies. It said it's trying to serve 60,000 meals daily through its field kitchen and partner community kitchens, less than half of what it's cooked over the previous month.
