Mobikwik Q1 loss widens sixfold, revenue falls 21% YoY
The fintech company reported a net loss of Rs 41.92 crore in Q1 FY26, compared to a loss of Rs 6.61 crore in the same period last year.
Mobikwik's losses widened steeply for the quarter ended June 30, 2025 (Q1 FY26), even as revenues declined and expenses moderated.
The fintech company reported a net loss of Rs 41.92 crore in Q1 FY26, compared to a loss of Rs 6.61 crore in the same period last year—a more than sixfold increase, as per consolidated financial statements.
Revenue from operations fell 20.7% year-on-year to Rs 271.36 crore from Rs 342.26 crore a year ago. Total income declined 18.6% to Rs 281.61 crore from Rs 345.82 crore in Q1 FY25.
Employee benefits expense rose 7% to Rs 41.95 crore from Rs 39.19 crore, while payment gateway costs climbed 11.9% to Rs 142.78 crore compared to Rs 127.61 crore last year.
Lending operation expenses dropped sharply by 68.4% to Rs 29.18 crore from Rs 92.36 crore in the same quarter a year earlier. Other expenses were down 5.4% at Rs 77.51 crore versus Rs 81.9 crore previously.
Total expenses fell 9% to Rs 312.81 crore in Q1 FY26 from Rs 343.59 crore a year ago, though they continued to exceed revenue.
MobiKwik’s core payments business recorded its highest-ever quarterly gross merchandise value (GMV) at Rs 38,400 crore in Q1 FY26, marking a 53% year-on-year increase and a 16% sequential growth.
In Q1 FY26, Mobikwik reported Rs 213.1 crore in revenue from its payments business and Rs 58.3 crore from financial services.
Gross margin for the payments segment rose to an all-time high of 27.9%, up from 16.1% in the previous year, aided by optimisation of direct costs such as payment gateway expenses and user incentives.
There was an uptick in lending with digital credit product ZIP EMI clocking a 31% QoQ growth in digital credit GMV distribution at Rs 693.1 crore.
Edited by Swetha Kannan