MobiKwik swings to net profit of Rs 7.6 Cr in Q1 FY27

Fintech company MobiKwik swung into profit for the first quarter of 2026-27, driven by strong growth in its payments business, improved lending profitability and continued focus on cost efficiency.

The company reported a net profit of Rs 7.6 crore for the first quarter of FY27 as compared to a loss of Rs 42 crore a year ago. MobiKwik said it has now registered profitability for three consecutive quarters.

The revenue from operations increased 4% year-on-year to Rs 282 crore for the first quarter while the EBITDA stood at Rs 15.8 crore improving by Rs 47 crore from the corresponding quarter last year, while contribution profit rose 66% year-on-year to Rs 129 crore.

The company said direct costs declined 21% during the quarter, reflecting tighter cost controls and improved operating efficiency.

MobiKwik's payments business continued to be the primary growth driver. It reported its highest-ever quarterly platform gross merchandise value (GMV) of Rs 58,700 crore. Platform GMV grew 50% year-on-year, supported by higher UPI transaction volumes and growth in revenue-generating payment categories.

The company said it remains India's largest prepaid payment instrument (PPI) wallet with a 19% market share by gross transaction value. It also reported a 2.3-fold increase in UPI transactions year-on-year and expanded its user base to 193 million while its merchant network grew to over 5 million. Gross margin in the payments segment improved to 37% from 28% a year earlier, while net payments margin stood at 13 basis points.

MobiKwik's financial services business also showed improved profitability. Gross profit from the segment increased 5.6 times year-on-year to Rs 43.3 crore, aided by better credit quality and stronger collections. Net financial services margin rose to 5.9% from 1.1% a year earlier.

Commenting on the results, Co-founder, Managing Director and Chief Executive Officer Bipin Preet Singh said the company has now delivered three consecutive profitable quarters while continuing to invest in growth. He added that MobiKwik would focus on strengthening its leadership in digital payments, expanding its financial services offerings and pursuing sustainable long-term growth.