The Pine Labs-backed mobile point-of-sale provider Mosambee has maintained year-over-year profitable growth. The business grew its operations by more than 28% in the fiscal year ending March 2024, while its revenue grew by 87%.

The annual financial statements sourced from the Registrar of Companies show that Mosambee's revenue from operations grew to 240 crores during the last fiscal year, from 187 crore in FY23.

The Mosambee mPOS system supports EMV technology and offers payment options for debit and credit card transactions, as well as mobile-based payment options. In FY24, revenue derived from service rental, transaction processing, and settlement increased by 52.3% to 163 crore.

The remaining operating revenue generated from the sale of point-of-sale devices, which saw a modest decrease of 3.4% to 77 crores in the last fiscal year, compared to 80 crore in FY23.

On the cost side, the cost of procurement of devices became the largest cost center, representing 40% of the overall cost. This cost grew 15.3% to 83 crore in FY24 from 72 crores in FY23, from 72 crore in FY23. Its employee benefit increased by 5.2% to 61 crore in FY24, including 8.7 crore as ESOP cost (non-cash) The company’s burn on legal, technology, communication, transaction services, and other overheads pushed the total expenditure up by 19.4% to 203 crore in FY24.

Good growth and prudent spending helped Mosambee increase its profits by 86.7% to 28 crore in the fiscal year. The company's ROCE and EBITDA margins improved to 31.25% and 23.33%, respectively.