Shares of One Mobikwik Systems gained nearly 7% on Monday, November 2, after the company reported a consolidated net profit of ₹12 crore for the September quarter compared with a net loss of ₹28.6 crore in the corresponding quarter last year.
Revenue from operations increased 9.5% year-on-year (YoY) to ₹295.7 crore from ₹270 crore a year ago. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at ₹15.7 crore, compared with an EBITDA loss of ₹15.7 crore in the year-ago quarter.
Q2FY27 marks our fourth consecutive profitable quarter, reflecting the rapid progress we are making towards building a sustainable business.BIPIN PREET SINGH, CO-FOUNDER, MD AND CEO, MOBIKWIK
Bipin Preet Singh, Co-founder, Managing Director and Chief Executive Officer of MobiKwik, said, “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.”
Singh said the company’s focus on cost optimisation and operating efficiency was strengthening its operating model and would support profitability as it scales.
Payments business drives growth
MobiKwik’s platform gross merchandise value (GMV) rose 35% year-on-year to an all-time quarterly high of ₹59,677 crore in Q2 FY27, compared with ₹44,114 crore a year earlier. Consumer payments GMV increased 27% to ₹46,375 crore.
Revenue from merchant payments grew 150% during the quarter, while the gross margin in the payments business expanded to 38.2% from 29.4% a year ago. The company’s registered user base increased to 196.3 million from 183.5 million.
Lending disbursals, measured by gross merchandise value, grew 34% year-on-year to ₹1,082.6 crore from ₹807.1 crore. Credit partner assets under management rose 19% to ₹1,488 crore, while activated credit users increased to 1.74 million from 1.42 million.
Gross profit from financial services more than doubled to ₹57.1 crore from ₹25.6 crore in the year-ago quarter. The net financial services margin improved to 5.27% from 3.17%.
MobiKwik steps up AI adoption
The company said 92% of its code is now generated through artificial intelligence (AI), up from 80% in the previous quarter, helping it achieve a 55% faster go-to-market cycle.
Its AI-powered collections platform facilitates 55% of early collections and has improved collection rates by 33%. In customer experience, 91% of customer queries are resolved by its Help large language model (LLM), while AI-led systems are used for fraud pattern detection.
MobiKwik aims to become an AI-first organisation by FY28.
Lending business transferred to wholly owned subsidiary
During the quarter, One MobiKwik transferred its Lending Service Provider (LSP) business to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited, with effect from August 18, 2026.
The transfer was executed on a going-concern basis through a slump sale for a consideration of ₹147.1 crore. The consideration was discharged by the subsidiary through the issuance of non-convertible debentures to One MobiKwik.
The company said the transaction was within the group and, therefore, was not treated as discontinued operations in its consolidated financial results.
IPO proceeds utilisation
As of September 30, 2026, the company had utilised ₹485.4 crore of its revised net initial public offering (IPO) proceeds of ₹534.4 crore, leaving ₹49 crore unutilised.
Of the amount utilised, ₹140.9 crore was deployed towards organic growth in the payments business, while ₹105.2 crore was used for research and development in data, machine learning, artificial intelligence and product technology. The company had also utilised ₹60.9 crore for investment in its lending subsidiary and ₹68.2 crore towards general corporate purposes.
The company operates in a single business segment comprising financial and payment services.
For the six months ended September 2026, consolidated revenue stood at ₹577.2 crore, compared with ₹541.6 crore in the year-ago period. The company reported a net profit of ₹19.4 crore for the half-year, against a net loss of ₹70.5 crore in the corresponding period last year.
Shares of the company gained about 7% following the results announcement, but have since pared some gains and were trading 2.5% up at ₹219.41 as of 1.18 pm. The stock has, however, declined nearly 5% so far in 2026 and about 17% over the last 12 months.
One MobiKwik Q2 Results: Swings to profit, posts fourth straight profitable quarter; shares gain 7%