MobiKwik, a fintech platform, reported its quarterly results for the first quarter of the current fiscal year (FY26), with revenue declining 20.8% year on year and losses increasing more than sixfold.

MobiKwik's revenue from operations fell by 20.8% to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25, according to unaudited financial statements obtained from the National Stock Exchange (NSE).

Key Highlights

• Mobikwik’s Q1 FY26 consolidated net loss surged ~6X YoY to ₹41.9 Cr, significantly higher than previous year.
• Revenue remained nearly flat while lending business slowdown eroded margins, contributing to widening losses.

MobiKwik's primary revenue sources in Q1 FY26 were recharge commissions, loan processing and interest, payment gateways, and platform fees. Notably, the company did not include an income breakdown in its quarterly report.

According to the filings, the company had 180.2 million registered users and 4.64 million merchants by the end of the first quarter (FY26).

Payment gateway costs were the largest expense for the payments platform, accounting for 46% of the total cost of Rs 143 crore in the first quarter of FY26. Employee benefits totaled Rs 42 crore, while lending fees, also known as commissions, were Rs 29 crore.

Also Read: MobiKwik Shares Gain 2% After SEBI Approval to Operate as Stock Broker

MobiKwik's financial guarantee, legal, advertising-marketing, finance, and other overheads totaled Rs 313 crore in the first quarter of FY26.

The Gurugram-based company's losses increased more than sixfold to Rs 42 crore in Q1 FY26, compared to Rs 6.6 crore in the same quarter last year. For the fiscal year ending March 2025, it reported a net loss of Rs 121.5 crore.

Through Mobikwik Securities Broking Private Limited (MSBPL), its wholly owned subsidiary, Mobikwik was granted permission by SEBI earlier this month to function as a stockbroker and clearing member.