One MobiKwik Systems Ltd. (MobiKwik) (NSE: MOBIKWIK / BSE: 544305), India’s largest digital wallet, today announced its earnings results for the quarter ended September 30, 2026 (Q2 FY27). The Company reported its fourth consecutive profitable quarter, with Profit After Tax (PAT) of ₹11.8 crore and EBITDA of ₹22.7 crore, its highest-ever quarterly PAT and EBITDA. Total income stood at ₹302.8 crore. Platform GMV reached a new quarterly high of ₹59,677 crore, reflecting 35% YoY growth, alongside Lending disbursals grew 34% YoY to ₹1,082.6 crore in Q2 FY27. The strong performance was driven by accelerating GMV growth and improved operating margins, highlighting the strength and scalability of the Company’s business model.
Key Highlights
- PAT stood at ₹11.8 crore in Q2 FY27, compared with a loss of ₹28.6 crore in Q2 FY26, marking the Company’s highest-ever quarterly PAT.
- EBITDA reached ₹22.7 crore, compared with a loss of ₹6.4 crore in Q2 FY26, marking the Company’s highest-ever quarterly EBITDA and fourth consecutive profitable quarter.
- Platform GMV reached an all-time quarterly high of ₹59,677 crore, reflecting 35% YoY growth in the Payments Business.
- Lending disbursal GMV grew 34% YoY to ₹1,082.6 crore in Q2 FY27, compared with ₹807.1 crore in Q2 FY26.
- Revenue from operations grew 9% YoY to ₹295.7 crore, while total income stood at ₹302.8 crore.
- Improved margins across Payments and Financial Services resulted in a Contribution Profit of ₹143.9 crore, up 50% YoY.
- AI adoption accelerates across Engineering, Lending, Customer Experience and Risk Management, with 92% of code generated through AI, 91% of customer queries solved by Help LLM, and 100% AI-led fraud detection; on track to becoming AI-First by FY28.
Key Financials: Q2 FY27 vs Q2 FY26
| Particulars | Q2 FY27 | Q2 FY26 | YoY growth / change |
| Platform GMV | ₹59,677 crore | ₹44,114 crore | + 35% |
| Lending disbursal (GMV) | ₹1,082.6 crore | ₹807.1 crore | +34% |
| Revenue from Operations | ₹295.7 crore | ₹270.2 crore | +9% |
| Total Income | ₹302.8 crore | ₹279.3 crore | +8% |
| Contribution Profit | ₹143.9 crore | ₹96.1 crore | +50% |
| EBITDA | ₹22.7 crore | ₹(6.4) crore | ₹29 crore positive swing |
| PAT | ₹11.8 crore | ₹(28.6) crore | ₹40 crore positive swing |
Profitable Growth Momentum Continues
Q2 FY27 marks another quarter of sustained profitability for MobiKwik, supported by growth in its core verticals and improved operating performance across its businesses. Revenue from operations increased to ₹295.7 crore, up 9% YoY, while EBITDA improved to ₹22.7 crore from a loss of ₹6.4 crore in Q2 FY26. Both PAT and EBITDA were at their highest-ever quarterly levels.
Commenting on the performance, Bipin Preet Singh, Co-founder, MD & CEO, MobiKwik, said: “Q2 FY27 marks our fourth consecutive profitable quarter, reflecting the rapid progress we are making towards building a sustainable business. We have crossed the ₹1000 crore milestone in Lending disbursals and clocked 150% year-on-year revenue growth in Merchant Payments, highlighting the growing scale of our business. We believe that the operating leverage in our business model will compound as we evolve into an AI-first company. Our continued focus on cost optimization and operating efficiency is further strengthening our operating model and will drive profitability as we scale.”
Scaling AI-Led Innovation Across the Business
MobiKwik is improving artificial intelligence usage across Engineering, Lending, Customer Experience and Risk Management, and aims to become an AI-First organisation by FY28.
AI now generates 92% of the Company’s code, up from 80% in the previous quarter, contributing to a 55% faster go to market. Its AI-powered collections platform facilitates 55% of early collections and has improved collection rates by 33%, with 30-40% higher connect rates through voice AI. In Customer Experience, 91% of customer queries are solved by a Help LLM and 100% of our customer connects are audited for quality by AI. In Risk Management, AI is at the heart of our Operations. 100% of our PRDs are assessed for risk by an AI Agent, 100% AI-led fraud pattern detection and 40-70% of fraud related grievances are solved by AI. These initiatives reflect MobiKwik’s focus on embedding AI into core functions to build a more efficient operating model.
Headline Results for the Quarter Ended September 30, 2026
Consolidated Financials
- Revenue from operations stood at ₹295.7 crore, up 9% YoY from ₹270.2 crore in Q2 FY26. Total income stood at ₹302.8 crore.
- EBITDA stood at ₹22.7 crore, compared with a loss of ₹6.4 crore in Q2 FY26, reflecting an improvement of ₹29.1 crore. This was the Company’s highest-ever quarterly EBITDA.
- PAT stood at ₹11.8 crore, marking a positive swing of ₹40.4 crore from a loss of ₹28.6 crore in Q2 FY26 and up 55% QoQ. This was the Company’s highest-ever quarterly PAT.
- EBITDA margin improved to 7.5%, compared with -2.3% in Q2 FY26 and 5.5% in Q1 FY27 up 977 bps YoY.
- Contribution margin expanded to 47.5%, up from 34.4% in Q2 FY26 and 44.5% in Q1 FY27. Contribution Profit grew 50% year-on-year to ₹143.9 crore in Q2 FY27.
Payments
MobiKwik’s core Payments business continued to scale, supported by growth in transaction volumes and improved gross margins.
- Platform GMV reached ₹59,677 crore, growing 35% YoY from ₹44,114 crore in Q2 FY26 and increasing sequentially from ₹58,684 crore in Q1 FY27.
- Consumer Payments GMV stood at ₹46,375 crore, up 27% YoY from ₹36,568 crore in Q2 FY26.
- Revenue from Merchant Payments grew 150% year-on-year in Q2 FY27.
- Gross margin in our Payments business expanded by 884 basis points year-on-year to 38.2% in Q2 FY27, compared with 29.4% in the corresponding quarter last year, reflecting improved unit economics.
- Registered users increased to 196.3 million, compared with 183.5 million in Q2 FY26.
The business continued to focus on expanding its payments ecosystem and improving monetisation while sustaining growth across its transaction platform.
Financial Services
MobiKwik’s Financial Services business continued to demonstrate improving operating metrics, supported by growth in lending disbursements and higher gross margins.
- Lending GMV stood at ₹1,082.6 crore, growing 34% YoY from ₹807.1 crore in Q2 FY26 and 47% sequentially from ₹736.7 crore in Q1 FY27.
- Credit Partner AUM stood at ₹1,488 crore, up 19% YoY from ₹1,251.4 crore in Q2 FY26.
- Activated credit users increased to 1.74 million, compared with 1.42 million in Q2 FY26.
- Financial Services Gross Profit more than doubled to ₹57.1 crore in Q2 FY27, compared with ₹25.6 crore in Q2 FY26.
- Net Financial Services Margin came in at 5.27% vs 3.17% in Q2 FY26 with Credit quality improvements flowing to net margins.
The improvement in these metrics reflects continued progress in the Company’s Financial Services business. MobiKwik remains focused on scaling its credit offerings with a calibrated approach to growth, collections and risk management.