Originals · Startup · Startups & Fintech
MobiKwik posts its highest ever quarterly profit of Rs 11.8 Cr in Q2 FY27 as payments volume climbs 35%
The Gurugram fintech swung from a Rs 28.6 Cr loss a year ago, helped by lower payment processing costs, and logged its fourth straight profitable quarter.
MobiKwik, the Gurugram-based payments and lending app, reported a consolidated net profit of Rs 11.8 Cr for the September quarter of FY27 (Q2 FY27), against a loss of Rs 28.6 Cr in the same quarter last year, according to its filings with the National Stock Exchange reported by Entrackr and Inc42. It is the company's highest quarterly profit so far. Profit rose about 55% from Rs 7.6 Cr in the June quarter.
Revenue from operations grew about 9% year on year to Rs 295.7 Cr from Rs 270.2 Cr, and about 5% from Rs 281.5 Cr in Q1. MobiKwik earns mainly through commissions on recharges and loan servicing and through payment gateway and technology platform fees, but it did not give a segment breakup in the filing. EBITDA, a measure of operating profit before interest, tax and depreciation, came in at Rs 22.7 Cr, compared with a loss of Rs 6.4 Cr a year earlier. Entrackr reported that this was the company's fourth profitable quarter in a row.
Volume grew faster than revenue. Platform gross merchandise value, the total value of payments flowing through MobiKwik, rose 35% to a quarterly high of Rs 59,677 Cr from Rs 44,114 Cr, and lending disbursals rose 34% to Rs 1,082.6 Cr from Rs 807.1 Cr, Entrackr said.
Costs explain much of the turnaround. Inc42 reported that payment processing charges, the largest expense, fell 10.8% to Rs 119.5 Cr, and lending operational expenses dropped to Rs 1.5 Cr from Rs 12.8 Cr. Employee costs went the other way, rising 59% to Rs 56.2 Cr, and the company also booked Rs 28.3 Cr in financial guarantee costs. Total expenses were Rs 290.9 Cr, slightly lower than a year earlier.
