MobiKwik's Financial Struggles: A Deepening Loss in Latest Quarter

In the recent June quarter, fintech entity One MobiKwik Systems reported a notable increase in consolidated losses, which widened to Rs 41.9 crore, a sharp contrast from the Rs 6.6 crore loss in the corresponding period the previous year. The Gurgaon-based firm experienced a 20.7% decline in operational revenue, which totaled Rs 271.3 crore compared to Rs 342.2 crore in the first quarter of FY25, according to a regulatory statement.

On a sequential basis, the company's financial losses eased from Rs 56 crore in the fourth quarter of FY25, while a modest revenue uptick of 1.3% was observed. In the first quarter of FY26, total expenses registered at Rs 312.8 crore, a slight decrease from Rs 343.6 crore in the prior year. Payment gateway costs increased to Rs 142.8 crore from Rs 127.6 crore, while employee benefits rose marginally to Rs 41.9 crore from Rs 39.1 crore.

MobiKwik, which completed its IPO by December 31, 2024, reported utilization of Rs 214 crore from its net IPO funds as of June 30, 2025, from a total capital pool of Rs 530.5 crore. The firm allocated these funds to foster organic growth in its financial and payment services divisions, enhance R&D in data and technology, and general corporate objectives. The company recorded its highest quarterly payment GMV at Rs 38,388.2 crore, with a user base of 180.2 million and a merchant base of 4.64 million. Despite challenges, Executive Director and CFO Upasana Taku emphasized the company's commitment to consistent growth and long-term value creation.

(With inputs from agencies.)