One Mobikwik Systems Ltd. reported revenue of Rs 2,714 million, a mild growth of 1.3% QoQ (our estimate:14.5%), due to soft Payment services revenue performance (+0.7 QoQ) as gross merchandise value growth (+16% QoQ / 53% YoY basis) was offset by lower take rate (56 bps down 8bps QoQ).
Financial services revenue showed signs of recovery, growing 3.7% QoQ.
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