ALMATY, Kazakhstan, April 22, 2024 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz ("Kaspi.kz", "we", or the "Company") (NASDAQ:KSPI) which operates the Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants, today publishes its unaudited consolidated IFRS financial results for the quarter ended 31 March 2024 ("1Q 2024"). 1Q 2024 Highlights Strong start to 2024 with first quarter revenue and net income up 40% and 28% year-over-year ("YoY"), respectively. Our faster growing and more profitable Payments and Marketplace Platforms together accounted for 68% of consolidated net income, up from 60% in 1Q 2023. All Platforms continued to deliver strong top-line growth in the first quarter of 2024. Once again, Marketplace was our fastest growing platform with GMV and revenue up 62% and 108% YoY respectively: Revenue from delivery, advertising and classifieds value added services added 160bps to Marketplace Take-Rate, which reached 9.5%. Marketplace net income in 1Q 2024 up 76% YoY including rapid growth from e-Grocery and e-Cars. Within Marketplace, e-Commerce keeps delivering the stand-out performance: e-Commerce GMV up 114% YoY. e-Commerce Take-Rate up 90 bps YoY to 11.1%. Following the acquisition of Kolesa.kz, we are focussing on the autos vertical which is we believe one of the largest areas of household spending: With 1.9 million cars registered in 2023, the addressable market is large. Kolesa.kz gives us the go to platform for car sales and is central to our strategy. We are now aiming to create a 1st class consumer experience around selling, buying & servicing a car. e-Cars accounted for 26% of e-Commerce GMV and included 1P, 3P car and auto part sales in 1Q 2024. 1,200 vehicles sold in our 1P marketplace in Almaty during the first quarter. Already net income profitable. e-Grocery top-line keeps growing fast: GMV up 125% & active consumers up 84% YoY to 566k.