MobiKwik Q1 FY27: PAT at ₹76 Mn, Revenue ₹2,892 Mn, 3% YoY Growth
MobiKwik reported Q1 FY27 PAT of ₹76 Mn, marking its third consecutive profitable quarter. Total revenue grew 3% YoY to ₹2,892 Mn. Platform GMV reached ₹587 Bn, up 50% YoY. The company targets full-year FY27 PAT of ₹400 Mn and aims to scale lending disbursals to ₹10,000 Mn+ quarterly.
The results show improved profitability and growth metrics, which are positive for the company. However, the revenue growth is modest, and the impact is medium as it doesn't represent a drastic change in the company's trajectory but rather a solid continuation of its recovery and growth strategy.
The company reported positive profits for the third consecutive quarter, a significant YoY swing in PAT, and strong growth in GMV and Contribution Profit, indicating a positive financial performance.
One MobiKwik Systems Limited announced its financial results for the first quarter of FY27, ended June 30, 2026. The company reported a Profit After Tax (PAT) of ₹76 Million (Mn), marking its third consecutive quarter of profitability. This represents a significant YoY swing of ₹495 Mn from a loss of ₹419 Mn in Q1 FY26.
Total Revenue for the quarter stood at ₹2,892 Mn, a modest increase of 3% YoY from ₹2,816 Mn in Q1 FY26. The company achieved an all-time high Platform Gross Merchandise Value (GMV), including Zaakpay, of ₹587 Billion (Bn), up 50% YoY. Standalone Payments GMV grew by 46% YoY to ₹561 Bn, while Lending GMV (ZIP EMI Disbursements) increased by 6% YoY to ₹7,367 Million.
Contribution Profit saw a substantial rise of 66% YoY to ₹1,286 Mn, with a significant improvement in margin from 27% to 44%. EBITDA turned positive at ₹158 Mn, a significant swing from a negative ₹312 Mn in the previous year's quarter. Finance & Depreciation costs were at a 6-quarter low of ₹81 Mn, down 24% YoY.
The Payments business continued its strong GMV growth streak for the 14th consecutive quarter, with UPI GMV growing by 99% YoY. However, revenue growth in Payments was moderated by a higher share of lower-take-rate consumer UPI and merchant transactions. The company aims to grow Merchant Payments revenue by 25% QoQ and Consumer Payments revenue by 5% QoQ in FY27.
In the Lending business, Gross Profit grew 5.6 times YoY to ₹433 Mn. The company is focusing on scaling lending disbursals and has launched two new growth initiatives leveraging AI and customer data, aiming for an additional ₹3,000 Million in quarterly disbursals. New lending partnerships are also being established, with a target of ₹10,000 Million+ in quarterly disbursals.
MobiKwik has set a target of full-year PAT positive for FY27, with an expected PAT of ₹400 Mn for the fiscal year. The company maintained a conservative balance sheet with net unencumbered cash of ₹4,374 Mn as of June 30, 2026. All long-term loans were repaid by the end of FY26, with only short-term working capital facilities outstanding.
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