Heading into 2018, mobile payment platform MoneyOnMobile was in a good place. While the company’s forward march was briefly halted by the dark, cashless cloud of demonetisation, it was now firmly in the ascendancy again. On the path to profitability, even.
In the third quarter of FY18, MoneyOnMobile posted revenues of $2.84 million, a year-on-year growth of 193%. The company’s net loss for the quarter stood at $0.42 million, a significant improvement from a loss of $1.11 million in the same quarter the previous year.
By all accounts, 2018 should have been a watershed year for the company.