One MobiKwik Systems Ltd., the parent company of payment solutions provider MobiKwik reported its September quarter results on Tuesday, November 4. In response, the stock was trading 4% lower today.

MobiKwik reported a net loss of ₹29 crore for the September quarter. It had reported a net loss of ₹4 crore during the same quarter last year. MobiKwik's net loss narrowed from the ₹41.9 crore it had reported during the June quarter.

On a year-on-year basis, the company's losses widened due to exceptional provisions made to cover fraud-related losses.

MobiKwik made provisions worth ₹11.8 crore this quarter after detecting fraudulent transactions worth ₹40.4 crore in Q2 by certain users in Haryana. An FIR has been filed, and ₹21.9 crore has already been recovered, while another ₹6.6 crore has

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