FINANCEOUTLOOKINDIA9NOVEMBER, 2026MOBIKWIK SWINGS TO $1.25 MILLION PROFIT AS Q2 FY27 REVENUE RISES 9%INDIA'S GST COLLECTIONS RISE TO RS 2.31 L CR IN OCT: STATE-WISE DATARUPEE RISES 12 PAISE TO 94.72 AGAINST US DOLLAR ON LOWER OIL PRICESUPI TRANSACTION VOLUME HITS RECORD 25.47 BILLION IN OCTOBER: NPCI DATAINDIA'S IPO FUNDRAISING SURGES 30% TO RECORD RS 84,400 CR IN H1 FY27Indian fintech company MobiKwik reported a net profit of 11.8 crore (approximately $1.25 million) in the second quarter of FY27, marking a return to profitability after posting a loss in the same period last year. The company had reported a net loss of 28.6 crore in Q2 FY26. The latest results reflect growth in its payments business and lending operations, along with better control over operating costs.MobiKwik's revenue from operations increased 9.4% year-on-year to 295.7 crore from 270.2 crore a year earlier. Total India's IPO fundraise jumped 30% to a record high of Rs 84,400 crore in the first half of the FY27, from Rs 64,900 crore in the same period of FY26. The country's mainboard initial public offering (IPO) market has shown robust activity with 71 companies making their stock market debut during the quarter ending September 2026, as compared with 55 companies in the same period last year, according to a Grant Thornton Bharat (GTB) report.A total of 71 companies made their stock market debut between April and September 2026, compared with 55 companies in the first half of the previous financial year. Notably, nearly 94% of the total capital raised during H1 FY27 was mobilised in the July-September quarter, reflecting a sharp acceleration in IPO activity. India's GST collections rose by 22.9% year-on-year (YoY) to Rs 2.31 lakh crore in October 2026, driven by an increase in revenue from domestic transactions and imports. Government data shows cumulative gross GST revenue during the first seven months of FY27 (April to October) increased 13.2% to Rs 14.78 lakh crore from the corresponding period last year.GST collections from domestic businesses went up 15.8% from a The rupee rises 12 paise to 94.72 against the US dollar in early trade on Tuesday. The Indian currency gained support from falling crude oil prices and foreign fund inflows into domestic equities. However, a stronger US dollar ahead of the crucial US midterm election kept global investors cautious. This limited the rupee's gains, according to forex traders.At the interbank foreign exchange market, the rupee opened at 94.68 against the dollar. It strengthened further to 94.60 before trading at 94.72, gaining 12 paise from its previous close. The Indian currency had declined 8 paise to close at 94.84 against the US dollar on Monday. This came after it appreciated 50 paise in the previous trading session on wFriday. UPI transaction volume reached a record 25.47 billion in October 2026, with the Unified Payments Interface (UPI) processing payments worth Rs 31.53 lakh crore during the month. According to data NPCI Data, UPI transaction volume increased 5.8% month-on-month (MoM), while transaction value rose 7.4% from September. In September, UPI prossed 24.07 billion transactions that valued Rs 29.37 lakh crore. This indicates that the digital payments platform has seen an all-time high in the month of October, showing continued growth in the real-time payment ecosystem in India.Reeju Datta, Co-founder, Cashfree Payments noted that the festive season and online sales drove the rise in October, with UPI being used for both larger festive purchases and everyday payments. He explained that payment volumes grew faster than transaction values due to the shifting dates of Dhanteras and Diwali, while strong growth is expected to continue into November. In October, the average UPI transactions were processed was 822 million, an increase of 2.5% from 802 million transactions in September. The average daily transaction value also increased to Rs 1,01,707 crore from Rs 97,913 crore during the previous month. 50.5 per cent YoY to 25,250 crore. The brokerage attributed the expected growth to strong business expansion and gains from stake sales in SBI Mutual Fund (SBIMF) and NSE. The brokerage estimates that the bank's net interest income (NII) will grow 11.3 per cent YoY to 47,847 crore. income also grew 8.4% to 302.8 crore. The company said higher transaction volumes and increased lending activity contributed to the improvement. The company has now reported its fourth consecutive profitable quarter. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 22.7 crore, compared with a loss of 6.4 crore in the corresponding quarter last year. year ago in October to Rs 1.59 lakh crore. Meanwhile, revenue from imports increased at a faster pace, rising 42.2% to Rs 72,246 crore. The monthly GST refundsalso rose 6.5 per cent to Rs 27,934 crore. The Central Goods and Services Tax (CGST) has contribute Rs 42,935 crore towards the collections in October while the State Goods and Services Tax (SGST) accounted Rs 51,340 crore during the month. The total revenue from integrated GST (IGST) was Rs 1.37 lakh crore.
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