One MobiKwik Systems posts third straight profit as GMV hits ₹587 Bn high
One MobiKwik Systems Limited reported a net profit of ₹76 million for Q1FY27, achieving its third consecutive profitable quarter. Platform GMV reached a record ₹587 billion, up 50% year-on-year, while financial services gross profit grew 5.6x. The results highlight improved unit economics in payments and stronger credit quality in lending.
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One MobiKwik Systems Limited reported a consolidated net profit of ₹76 million for the quarter ended June 30, 2026 (Q1FY27), marking its third consecutive profitable quarter. The fintech firm’s platform gross merchandise value (GMV) reached an all-time quarterly high of ₹587 billion, growing 50% year-on-year, while net financial services margins expanded fivefold to 5.9%. This performance underscores the company’s successful transition to sustainable profitability, driven by robust credit quality in lending and accelerating UPI transaction volumes.
Financial Performance Overview
The company’s total income rose to ₹2,892 million in Q1FY27, up 3% from ₹2,816 million in the year-ago period. Revenue from operations stood at ₹2,815 million, reflecting a 4% increase. The profitability swing was significant, with net profit improving by ₹495 million year-on-year from a loss of ₹419 million. EBITDA also swung positive to ₹158 million, reversing a loss of ₹312 million previously, representing an improvement of ₹470 million.
| Metric | Q1FY27 (₹Mn) | Q1FY26 (₹Mn) | YoY Change |
|---|---|---|---|
| Total Income | 2,892 | 2,816 | 3% |
| EBITDA | 158 | (312) | ₹470 Mn Swing |
| Net Profit / (Loss) | 76 | (419) | ₹495 Mn Swing |
Contribution profit, a key internal metric, grew by 66% to ₹1,286 million, supported by disciplined cost management. Direct costs declined by 21% year-on-year, while fixed costs remained at 39% of total income as the company continues investing in high-growth segments.
Business Segment Highlights
The payments business delivered record volume growth, with platform GMV hitting ₹587 billion, up 50% from ₹392 billion in Q1FY26. MobiKwik ranked as the second fastest-growing Unified Payments Interface (UPI) app in India, with transactions growing 2.3 times faster than the industry average. The user base expanded to 193 million, and the merchant base grew to 5.02 million. Net payments margin stood at 13 basis points, while gross margin improved to 37% from 28% in the prior year.
In financial services, gross profit surged 5.6 times to ₹433 million from ₹77 million, driven by enhanced credit quality and collection efficiency. ZIP EMI GMV grew 6% to ₹7,367 million, with 60% of loans disbursed to repeat customers, indicating strong portfolio retention. Credit risk performance improved by approximately 25%.
Strategic Outlook
Bipin Preet Singh, Co-founder, Managing Director & CEO, stated that profitability is now embedded in the business model, citing 14 straight quarters of GMV growth in payments. The company remains focused on deepening its payments leadership and expanding its digital financial services ecosystem. The reallocation of IPO proceeds toward lending services and offline merchant growth supports this long-term value creation strategy.
Historical Stock Returns for One Mobikwik Systems
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +7.94% | +10.19% | +10.83% | +11.08% | -9.80% | -58.05% |
How will the reallocation of IPO proceeds toward lending services impact MobiKwik's capital adequacy and future credit expansion capabilities?
Can MobiKwik sustain its 50% YoY GMV growth trajectory given the intensifying competition in the UPI space from established players like PhonePe and Paytm?
What specific strategies is MobiKwik employing to maintain its 25% improvement in credit risk performance as it scales its ZIP EMI lending portfolio?
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