MobiKwik's Q1 FY26 revenue falls 21% yoy amid financial services slowdown
01 Aug 2025, 12:19 PMThe financial services revenue dropped massively on yoy basis to Rs 58 crore from Rs 170 crore posted during Q1 FY25.
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Payments company MobiKwik has reported its financial results for the first quarter of fiscal year 2025-2026 (Q1 FY26). The company's operating revenue for the quarter remained flat at Rs 271 crore from Rs 268 crore reported during Q4 FY25.
On year-on-year basis, the operating revenue has witnessed a significant decline which stood at Rs 342 crore in Q1 FY25.
From payments business, MobiKwik generated Rs 213 crore income during the quarter, against Rs 211 crore reported during the previous quarter and Rs 171.5 crore reported a year earlier (Q1 FY25).
Whereas the financial services revenue dropped massively on yoy basis to Rs 58 crore from Rs 170 crore posted during Q1 FY25. Last quarter (Q4 FY25), the revenue from this segment remained at Rs 56 crore.
On the expense side, payment gateway charges were the largest cost center at Rs 143 crore during Q1 FY26, against Rs 147 crore reported during the last quarter and Rs 127 crore reported during Q1 FY25. Employee benefits cost were about Rs 42 crore during the quarter -- a slight decline from Rs 43 crore reported during the last quarter. However, on yoy basis the employee cost has increased marginally from Rs 39 crore.
For the quarter ended June 30, 2026, the Gurugram-based fintech's total expense stood at Rs 313 crore, compared to Rs 324 crore reported during Q4 FY25 and Rs 343 crore during Q1 FY25.
The payments company booked Rs 42 crore in losses during Q1 FY26, compared to Rs 56 crore loss posted in the previous quarter and Rs 6.6 crore loss reported a year earlier.
Out of Rs 530 crore received in IPO proceeds, the company said it has so far spent Rs 316.5 crore for funding organic growth in financial and payments services business and more.
MobiKwik claims it has a registered user base stood at 180 million and 4.6 million merchants, as of June 30, 2025. The company’s payment of GMV has also surged to Rs 38,388 crore.
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