Mobikwik losses surge 6X in Q1 FY26

Fintech platform MobiKwik reported its quarterly results for the first quarter of  the ongoing fiscal year (FY26) on Thursday, with revenue declining 20.8% year-on-year and losses rising over six-fold.

MobiKwik’s revenue from operations decreased by 20.8% to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25, its unaudited financial statements accessed from the National Stock Exchange (NSE) show.

Commissions on recharges, processing, and interest on servicing loans, payment gateways, as well as platform fee were the primary revenue sources for MobiKwik in Q1 FY26. Notably, the company did not provide an income breakdown in its quarterly report.

According to the filings, the firm has 180.2 million registered users and 4.64 million merchants at the end of the first quarter (FY26).

For the payments platform, payment gateway costs accounted for the largest expense, making up 46% of the total cost of Rs 143 crore in Q1 FY26. Its employee benefit expenses stood at Rs 42 crore, while lending fees aka commission amounted to Rs 29 crore.

MobiKwik’s financial guarantee, legal, advertising-marketing, finance, and other overheads took its total burn to Rs 313 crore in Q1 FY26.

The Gurugram-based company’s losses rose over six-fold to Rs 42 crore in Q1 FY26, compared to Rs 6.6 crore in the same quarter last year. For the full fiscal year that ended in March 2025, it reported a net loss of Rs 121.5 crore.

Earlier this month, Mobikwik received approval from SEBI to operate as a stockbroker and clearing member through its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL).

At the end of Thursday session, Mobikwik’s stock was trading at Rs 246.80 with a total market capitalization of Rs 1,929 crore or approximately $227 million. For background, Mobikwik hit a market capitalization of $472 million at the time of listing in December last year.