MobiKwik’s COO Mohit Narain Resigns for Health Reasons

Digital payments company MobiKwik has revealed the departure of its Chief Operating Officer for Consumer Payments, Mohit Narain, due to health-related concerns. In a filing to the stock exchange, it was noted that Narain’s last day in his role would be at the closing of business hours on October 24, 2025. The company indicated that this decision was made following medical advice that encouraged him to rest and focus on his recovery.

Narain joined MobiKwik in mid-2018 and was promoted to the position of COO for Consumer Payments in February of the previous year. His responsibilities included overseeing operations across UPI, Wallet, QR, and various payment devices.

This marks the second significant departure from MobiKwik within the year 2025. Earlier in January, Chandan Joshi, co-founder and head of the payments division, also left the company. MobiKwik has made several crucial leadership promotions throughout this year to bolster its core operations, including the appointment of Saurabh Dwivedi as Chief Technology Officer (CTO) and Dhruv Wadhera as Senior Vice President (SVP) in Offline Payments.

In terms of financial performance, MobiKwik’s operating revenue experienced a decline of 21%, falling to Rs 271 crore in the first quarter of FY26, compared to Rs 342 crore in the same quarter of FY25. Additionally, the company reported a significant increase in losses, rising over six times to Rs 42 crore in the first quarter of FY26 from the previous year.