One MobiKwik Systems shares surged nearly 10% on November 2, 2026, after the fintech company reported its highest-ever quarterly consolidated net profit of ₹11.83 crore for the September quarter of FY27. The company had reported a net loss of ₹28.62 crore in Q2 FY26, marking a significant year-on-year improvement in its financial performance.
MobiKwik’s revenue from operations increased 9.4% year-on-year to ₹295.70 crore, compared with ₹270.21 crore in the corresponding quarter last year. The company also reported positive EBITDA before other income of ₹15.62 crore, compared with a loss of ₹15.49 crore a year earlier. The performance reflects improving operating efficiency, stronger payment volumes and better cost management across its business segments.
MobiKwik Q2 FY27 Results: Key Financial Highlights
MobiKwik’s September-quarter results showed improvements across revenue, profitability and operating performance.
The company recorded its fourth consecutive profitable quarter, with consolidated net profit reaching ₹11.83 crore.
MobiKwik Quarterly Financial Performance
All figures in ₹ crore.
| Financial Metric | Q2 FY27 | Q2 FY26 | YoY Change |
|---|---|---|---|
| Revenue from operations | 295.70 | 270.21 | +9.4% |
| EBITDA before other income | 15.62 | -15.49 | Turned positive |
| EBITDA including other income | 22.68 | -6.38 | Turned positive |
| Other income | 7.06 | 9.12 | -22.5% |
| Finance costs | 6.50 | 7.21 | -9.8% |
| Depreciation and amortisation | 4.31 | 3.17 | +36.0% |
| Profit before exceptional items and tax | 11.87 | -16.75 | Turned positive |
| Exceptional items | Nil | -11.83 | — |
| Net profit/(loss) | 11.83 | -28.62 | Turned profitable |
The results demonstrate a substantial improvement in MobiKwik’s profitability. EBITDA before other income also reached a positive margin of 5.3%, compared with a negative margin of 5.7% in the year-ago quarter.
The company reported a net profit margin of approximately 4% during Q2 FY27.
MobiKwik Revenue Rises 9.4% in Q2 FY27
MobiKwik generated ₹295.70 crore in revenue from operations during the September quarter, compared with ₹270.21 crore in Q2 FY26.
Revenue also increased 5.1% compared with ₹281.48 crore in the June 2026 quarter.
The improvement indicates continued growth in the company’s digital payments and financial services operations.
However, profitability improved faster than revenue, suggesting that better cost management played an important role in the quarterly turnaround.
Total expenses declined approximately 2% year-on-year despite the increase in revenue.
One of the biggest contributors to the improvement was the reduction in payment processing charges.
These charges declined 10.8% year-on-year to ₹119.47 crore, compared with ₹134.00 crore in Q2 FY26.
Payment processing charges accounted for approximately 40.4% of revenue, down from 49.6% a year earlier.
This reduction helped improve the company’s operating margins.
MobiKwik Payments Business Records 35% GMV Growth
MobiKwik’s payments business continued to expand during Q2 FY27.
The company’s platform gross merchandise value (GMV) reached a record ₹59,677 crore, representing 35% year-on-year growth.
GMV measures the total value of transactions processed through a platform. It provides an indication of business activity but should not be confused with revenue earned by the company.
Some important operating developments included:
- Platform GMV reached ₹59,677 crore, up 35% year-on-year.
- Consumer payments GMV increased 27% to ₹46,375 crore.
- Merchant payments revenue grew 150% year-on-year.
- The registered user base reached 196.3 million.
The growth in merchant payments revenue is particularly relevant because merchant transactions provide MobiKwik with opportunities to expand its payment services beyond consumer wallet and UPI transactions.
The company is also working to strengthen its merchant network and increase engagement across its digital payments ecosystem.
Lending Business Grows 34% in Q2 FY27
MobiKwik’s financial services business also reported growth during the quarter.
Lending disbursals increased 34% year-on-year to ₹1,082.6 crore, compared with ₹807.1 crore in Q2 FY26.
The number of activated credit users reached 1.74 million.
Another important development was the improvement in the net financial services margin, which increased to 5.27% from 3.17% in the corresponding quarter last year.
The company has been focusing on expanding its credit offerings while improving the economics of its lending operations.
Its financial services business provides another potential revenue source alongside its core digital payments operations.
However, sustainable growth in lending will depend on maintaining credit quality, controlling defaults and managing lending-related risks.
MobiKwik’s AI Strategy: Company Targets AI-First Operations by FY28
Alongside its financial results, MobiKwik is expanding the use of artificial intelligence across its internal operations.
The company aims to become an AI-first organisation by FY28, integrating AI into engineering, lending, customer experience and risk management.
According to company disclosures, several AI-related operational milestones have already been achieved.
| Business Function | AI Implementation |
|---|---|
| Engineering | 92% of code generated using AI |
| Product development | 55% faster go-to-market |
| Customer experience | 91% of customer queries handled by a Help LLM |
| Collections | 55% of early collections facilitated through AI |
| Risk management | AI-led fraud pattern detection |
| Customer support | AI audits 100% of customer connects |
The company also reported that its AI-powered collections platform improved collection rates by 33%.
MobiKwik is attempting to use AI to reduce operational costs, improve customer service and strengthen its fraud detection capabilities.
If these initiatives deliver sustained improvements, they could help the company expand its operations without increasing costs at the same pace as transaction volumes.
MobiKwik Q2 FY27 vs Q1 FY27: Sequential Performance
MobiKwik also improved its financial performance compared with the June 2026 quarter.
Net profit increased 55.4% sequentially, while revenue from operations grew 5.1%.
| Financial Metric | Q2 FY27 | Q1 FY27 | QoQ Change |
|---|---|---|---|
| Revenue from operations | ₹295.70 crore | ₹281.48 crore | +5.1% |
| EBITDA before other income | ₹15.62 crore | ₹8.10 crore | +92.7% |
| EBITDA margin before other income | 5.3% | 2.9% | +240 bps |
| Net profit | ₹11.83 crore | ₹7.62 crore | +55.4% |
| Net profit margin | 4.0% | 2.7% | +130 bps |
The sequential improvement indicates that the company’s profitability momentum continued into the September quarter.
Its EBITDA before other income nearly doubled compared with the previous quarter, reflecting better operating performance.
MobiKwik First Half FY27 Results Show Profitability Turnaround
The company’s performance during the first six months of FY27 also reflected a significant improvement.
Revenue from operations increased 6.6% year-on-year to ₹577.18 crore.
More importantly, MobiKwik reported a consolidated net profit of ₹19.45 crore during H1 FY27, compared with a net loss of ₹70.54 crore in H1 FY26.
| Financial Metric | H1 FY27 | H1 FY26 | Performance |
|---|---|---|---|
| Revenue from operations | ₹577.18 crore | ₹541.57 crore | +6.6% |
| EBITDA before other income | ₹23.72 crore | -₹56.95 crore | Turned positive |
| Net profit/(loss) | ₹19.45 crore | -₹70.54 crore | Turned profitable |
The first-half performance suggests that MobiKwik’s turnaround is not limited to a single profitable quarter.
The company has now reported four consecutive profitable quarters, according to its management.
Why Did MobiKwik Shares Rise Nearly 10%?
MobiKwik shares gained nearly 10% on November 2 following the announcement of the September-quarter results.
The stock market reaction came after the company reported record quarterly profitability and a substantial improvement in its operating performance.
Several factors may have supported investor sentiment:
1. Return to profitability: MobiKwik moved from a ₹28.62 crore quarterly loss to an ₹11.83 crore profit.
2. Improving operating margins: EBITDA before other income turned positive at ₹15.62 crore.
3. Record payment volumes: Platform GMV increased 35% year-on-year to ₹59,677 crore.
4. Better cost management: Payment processing charges declined despite higher revenue.
5. Lending growth: Lending disbursals increased 34%, providing additional business momentum.
However, a sharp single-day stock price increase does not necessarily indicate that the company has established long-term profitability. Investors will need to monitor subsequent quarterly results, margins and cash flows.
The Bigger Picture
MobiKwik’s Q2 FY27 performance highlights the changing economics of India’s fintech industry. Digital payment companies are increasingly focusing on improving monetisation, expanding merchant services and developing financial products rather than relying exclusively on transaction volumes.
For MobiKwik, the combination of payment growth, lending expansion and AI-driven operating efficiency could support its efforts to build a more sustainable business. Its return to profitability is an important development, although maintaining margins while scaling operations will remain a major challenge.
Looking Ahead
The next few quarters will be important in determining whether MobiKwik can sustain its profitability and convert its growing transaction volumes into stronger earnings. Investors will particularly monitor payment processing costs, merchant revenue growth, lending performance and credit quality.
If the company continues improving operating efficiency while expanding its payments and financial services businesses, it could strengthen its position in India’s fintech market. However, competition, regulatory requirements and lending-related risks will remain important factors influencing its financial performance.
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