Kaspi.kz 1Q Revenue Rose, Approves Up to $100 Million Buyout Program
By Anthony O. Goriainoff
Kaspi.kz JSC said on Monday that revenue grew in the first quarter despite two unspecified external shocks, and that it had approved a buyback program of up to $100 million.
The Kazakhstan-focused mobile technology company said revenue for the quarter was 253.71 billion tenge ($571.7 million), compared to KZT 168.86 billion for the same period of the year. last.
The London-listed company said daily active users grew 34% to 7.2 million and that was a faster rate than monthly active users, which grew 14% to 11.4 million. The underlying structural drivers of its business remained sound despite the macroeconomic backdrop, he said.
He added that Kaspi Travel has become the country’s leading online flight and train booking service, and in the future it will continue to expand the division’s offerings.
“Going forward, our payments and marketplace platforms should continue to deliver very strong growth and we are well positioned to gradually accelerate growth in total financial value, or TFV, in the second half, assuming a stable external environment,” the company said.
Write to Anthony O. Goriainoff at [email protected]