One MobiKwik Systems, the Gurugram-based digital payments and lending company, reported its highest-ever quarterly profit for the July–September 2026 quarter. Consolidated net profit came in at ₹11.8 crore in Q2 FY27, against a loss of ₹28.6 crore a year earlier, as payments margins widened and lending disbursals crossed ₹1,000 crore for the first time.
It is the company’s fourth straight profitable quarter. Net profit rose about 55% from ₹7.6 crore in the June quarter, and the stock climbed close to 10% on the NSE on 2 November 2026 after the results were announced, according to The Economic Times.
MobiKwik Q2 FY27 Results at a Glance
According to the company’s filing, revenue from operations grew 9.4% year on year to ₹295.7 crore, up from ₹270.2 crore, and 5.1% over the previous quarter. Total expenses fell about 2% even as revenue grew, which drove the swing to profit.
- Net profit: ₹11.8 crore, against a loss of ₹28.6 crore in Q2 FY26
- Reported EBITDA: a record ₹22.7 crore, against a loss of ₹6.4 crore a year ago
- Payments GMV: an all-time high of ₹59,677 crore, up 35% year on year
- Lending disbursal GMV: ₹1,082.6 crore, up 34% year on year and 47% over the June quarter
- Contribution profit: ₹143.9 crore, up 50% year on year
- Registered users: 196.3 million, up from 183.5 million
Payments Margins Did the Heavy Lifting
The biggest single shift came in payment processing charges, which fell 10.8% year on year to ₹119.5 crore, or about 40% of revenue against nearly 50% a year ago. As a result, gross margin in the payments business expanded by about 884 basis points to 38.2%. Merchant payments revenue grew 150% year on year, a sign that the company’s push into offline merchants and payment devices is starting to pay off.
The numbers land in a record month for India’s payment rails, with UPI logging an all-time high of 25.47 billion transactions in October, and ahead of the merchant discount rate that NPCI is set to apply to larger merchant UPI payments after Diwali.
Lending Scales With Better Credit Quality
On the financial services side, credit partner assets under management rose 19% year on year to ₹1,488 crore and activated credit users grew to 1.74 million from 1.42 million. Net financial services margin improved to 5.27% from 3.17% a year ago, which the company attributed to better credit quality. Lending operational expenses fell 88% to ₹1.5 crore.
An AI-First Operating Model
MobiKwik said AI-generated code made up 92% of all code written in the quarter, up from 80% in Q1, helping it bring products to market 55% faster. Its AI-powered collections platform handled 55% of early collections and lifted collection rates by 33%, while its in-house Help LLM resolved 91% of customer queries. Fraud pattern detection is now entirely AI-led, the company said.
Bipin Preet Singh, Co-founder, Managing Director and CEO, MobiKwik, said the fourth consecutive profitable quarter reflects the company’s progress towards building a sustainable business, and that operating leverage should compound as it evolves into an AI-first company. He added that continued cost optimisation and operating efficiency would support profitability as MobiKwik scales.
What It Means for Listed Fintechs
The result adds to a strong earnings season for listed Indian fintechs, after Paytm reported a ₹225 crore Q2 profit and PB Fintech posted its Q2 numbers. With a large fintech IPO pipeline waiting, steady profits from mid-sized players such as MobiKwik strengthen the case that payments-plus-credit models can make money at scale.
Key Takeaways
- MobiKwik posted a record ₹11.8 crore net profit in Q2 FY27, its fourth profitable quarter in a row.
- Revenue rose 9.4% to ₹295.7 crore while payment processing costs fell 10.8%.
- Payments GMV hit ₹59,677 crore and lending disbursals crossed ₹1,000 crore.
- AI now writes 92% of the company’s code and handles 55% of early collections.
Frequently Asked Questions
What was MobiKwik’s net profit in Q2 FY27?
MobiKwik reported a consolidated net profit of ₹11.8 crore for the quarter ended 30 September 2026, against a loss of ₹28.6 crore a year earlier.
Why did MobiKwik’s profit rise?
Lower payment processing charges widened payments margins, merchant payments revenue grew 150%, and better credit quality lifted lending margins, while total costs fell.
How is MobiKwik using AI?
The company says AI writes 92% of its code, runs its fraud pattern detection, handles 55% of early collections and resolves 91% of customer queries.
