MobiKwik Q2 FY26 Results: Revenue Stable, EBITDA Improves 80% QoQ to ₹63.8 Cr Loss

One MobiKwik Systems Limited has announced its Q2 FY26 financial results alongside scheduled investor meetings for December 18-19, 2025, in Mumbai. The fintech company reported stable revenue performance with significant operational improvements across key business metrics.

Financial Performance Overview

The company delivered steady financial performance in Q2 FY26 with notable improvements in profitability metrics:

Metric	Q2 FY26	Q1 FY26	Change (QoQ)
Total Income	₹2,793.3 Mn	₹2,816.2 Mn	-1%
Revenue from Operations	₹2,702.1 Mn	₹2,713.6 Mn	-0.4%
EBITDA	₹(63.8) Mn	₹(312.0) Mn	+80%
Net Loss	₹(286.2) Mn	₹(419.2) Mn	+32% improvement
Contribution Profit	₹960.9 Mn	₹774.2 Mn	+24%

Payments Business Shows Strong Momentum

The payments segment demonstrated robust growth with record-high GMV performance. Payment GMV reached ₹432.17 billion, marking a 53% year-over-year increase and 13% quarter-over-quarter growth.

Payment Metrics	Q2 FY26	Q2 FY25	YoY Growth
Payment GMV	₹432.17 Bn	₹282.76 Bn	+53%
Registered Users	183.5 Mn	166.9 Mn	+10%
Merchants	4.71 Mn	4.40 Mn	+7%
UPI Transactions	138.26 Mn	-	+38% QoQ

UPI Growth Drives Digital Transformation

One MobiKwik Systems emerged among the top 3 fastest-growing UPI apps in India's ecosystem. Customer-initiated UPI transactions grew 38% quarter-over-quarter to 138.26 million, while UPI GMV increased 28% QoQ. The company's UPI share in overall payments business expanded from 30% to 40%.

Financial Services Recovery

The financial services segment showed signs of recovery with improved margins. Digital credit GMV reached ₹8,071 million with ZIP EMI disbursals growing 19.4% year-over-year. The segment's gross margin improved significantly to 41.8% in Q2 FY26 from 13.3% in Q1 FY26.

Financial Services	Q2 FY26	Q1 FY26	Change
Revenue	₹612.8 Mn	₹583.1 Mn	+5%
Digital Credit GMV	₹8,071 Mn	₹6,931 Mn	+16%
Gross Margin	41.8%	13.3%	+28.5pp

Investor Engagement Schedule

The company has scheduled comprehensive investor meetings in Mumbai across two days:

Date	Event	Organizer	Format
December 18, 2025	Non-Deal Roadshow	-	Physical Meetings
December 19, 2025	Antique BFSI Conference 2025	Antique Stock Broking Ltd.	Physical Meetings

The meetings will include one-to-one and group discussions, with company officials ensuring all discussions remain within publicly available information guidelines as per SEBI regulations.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.31%	+1.18%	-2.76%	-3.93%	-61.57%	-55.69%

One MobiKwik Systems has achieved a significant milestone in India's competitive digital payments landscape by securing its position among the top three fastest-growing UPI applications during Q2FY26. The company demonstrated exceptional performance with remarkable transaction growth that underscores its expanding market presence and strengthened user engagement.

Outstanding UPI Transaction Performance

The digital payments platform recorded impressive growth metrics during the reporting period. MobiKwik's UPI transactions grew by 38% quarter-on-quarter, while UPI Gross Merchandise Value (GMV) increased by 28%, reflecting increasing engagement from both new and existing users.

Performance Metric	Details
UPI Transaction Growth (QoQ)	38%
UPI GMV Growth (QoQ)	28%
Yearly UPI Growth (October 2025)	3X increase
Market Position	Top 3 fastest-growing UPI apps
Reporting Quarter	Q2FY26

Pocket UPI Emerges as Major Growth Engine

The momentum has been further strengthened by the rapid adoption of Pocket UPI, MobiKwik's wallet-powered UPI feature. Pocket UPI has become a central driver of MobiKwik's UPI scale, enabling users to make UPI payments directly from their MobiKwik Wallet by scanning any QR code or paying via mobile number or UPI ID without linking their primary bank account.

This innovative feature gives users more control over their digital spending, keeps bank statements clutter-free, and reduces exposure of sensitive banking details, making Pocket UPI a safer, cleaner, and more convenient option for everyday payments.

Enhanced User Experience and Market Position

MobiKwik's growth has been driven by continued focus on strengthening its product experience. The app offers a seamless, responsive interface, strengthened by optimized payment flows, faster load times, and improved routing logic, all contributing to higher transaction success rates.

Company Highlights	Details
Digital Wallet Market Share	19% of PPI wallet GTV
Registered Users	183.50 million
Merchant Base	4.71 million
Market Position	India's largest digital wallet

Upasana Taku, Executive Director, CFO and Co-Founder of MobiKwik, commented on the growth: "The NPCI data highlights the strong, broad-based adoption of UPI on our platform across the country. Sustained growth across both volume and value reflects the increasing trust users and merchants place in us. As digital payments become integral to everyday life, our focus remains on reliability, safety, and serving the evolving needs of India."

Strategic Growth and Market Impact

This milestone reinforces the company's strategic focus on UPI services and highlights its competitive capabilities in delivering reliable digital payment solutions to Indian consumers. The platform continues to gain traction in high-frequency categories such as retail groceries, food dining, and fuel among others.

MobiKwik's achievement comes at a time when India's UPI ecosystem continues to experience robust growth across various platforms, with the company's strong performance contributing to the overall expansion of digital payment adoption in the country.