MobiKwik Reports Financial Results for Q2 FY26

MobiKwik, a leading fintech platform, has unveiled its quarterly results for the second quarter of the current fiscal year (FY26) on Tuesday. The report reveals a revenue decline of 7% compared to the previous year and an increase in losses by over eight times.

Revenue Details

The revenue from operations for MobiKwik fell by 7% to Rs 270 crore in Q2 FY26, down from Rs 291 crore in Q2 FY25, according to unaudited financial statements sourced from the National Stock Exchange (NSE). Primary income sources for MobiKwik in this quarter included commissions on recharges, loan servicing fees, payment gateways, and platform fees. In line with prior quarter reports, the company did not provide a detailed income breakdown for Q2 FY26.

Half-Yearly Performance

On a half-yearly basis, MobiKwik’s revenue decreased by 14.5%, amounting to Rs 541 crore in H1 FY26 compared to Rs 633 crore in H1 FY25. The payment gateway costs emerged as the largest expense for the platform, constituting 47% of the total expenditure of Rs 134 crore in Q2 FY26. Employee benefits were recorded at Rs 35 crore, while lending fees or commissions reached Rs 13 crore.

Expenses Analysis

MobiKwik’s total burn for Q2 FY26, which includes financial guarantees, legal costs, marketing, and other overhead expenses, stood at Rs 286 crore, remaining consistent when compared to Rs 287 crore in Q2 FY25.

Losses and Stock Performance

The Gurugram-based company’s losses surged to Rs 28.6 crore in Q2 FY26, significantly higher than the Rs 3.5 crore recorded in the same quarter last year. For the half year ending in September 2025, MobiKwik reported a net loss of Rs 70.5 crore. Currently, MobiKwik’s stock price is trading at Rs 255 (as of 11:50 AM), resulting in a total market capitalization of Rs 2,021 crore.

Management Changes

In an earlier announcement last month, MobiKwik disclosed the resignation of its Chief Operating Officer for Consumer Payments, Mohit Narain, citing health reasons. Additionally, the company had reported a Rs 40 crore fraud incident in Haryana, later clarifying that it was due to an internal glitch rather than a cyberattack.