Mosambee FY24 profit surges 86% to Rs 28 crore
05 Dec 2024, 05:09 PMMosambee's profits grew by 86.7% to Rs 28 crore in FY24, from Rs 15 crore reported in the previous financial year.
Team Head&Tale
Share the story on
Mobile point-of-sale provider Mosambee's FY24 operating revenue stood at Rs 240 crore, compared to Rs 187 crore reported in FY23.
Service rental, transaction processing, and settlement generated 68% of the total revenue at Rs 163 crore in FY24.
The rest of the operating revenue generated from the sale of PoS (point of sale) devices which saw a 3.4% decline to Rs 77 crore in FY24, compared to Rs 80 crore in FY23, reported Entrackr.
The Pine Labs-backed fintech's total expenditure surged by 19.4% to Rs 203 crore in FY24, compared Rs 170 reported in FY23.
The cost of procurement of devices became the largest cost center forming 40% of the overall cost. This cost increased 15.3% to Rs 83 crore in FY24 from Rs 72 crore in FY23; whereas employee benefit expense increased to Rs 61 crore in FY24.
Mosambee's profits grew by 86.7% to Rs 28 crore in FY24, from Rs 15 crore reported in the previous financial year.
In April 2022, Pine Labs acquired a majority stake in payment solutions firm Mosambee at upwards of $100 million valuation. In February 2022, Mosambee acquired Benow, a disruptive payments and EMI technology platform.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
