MobiKwik swings to net profit of Rs 7.6 Cr in Q1FY27
MobiKwik's payments business continued to be the primary growth driver. It reported its highest-ever quarterly platform gross merchandise value (GMV) of Rs 58,700 crore.
Fintech company MobiKwik reported a net profit of Rs 7.6 crore for the first quarter of FY27, marking its first profitable quarter in three years. This growth was driven by a strong performance in its payments business, improved lending profitability, and increased cost efficiency. The company's revenue from operations grew 4% year-on-year to Rs 282 crore, while its EBITDA increased by Rs 47 crore from the previous quarter.
MobiKwik's payments segment saw significant growth, with its platform gross merchandise value (GMV) reaching Rs 58,700 crore, a 50% increase year-on-year. The company's user base expanded to 193 million, and its merchant network grew to over 5 million. MobiKwik's gross margin in the payments segment improved to 37% from 28% a year earlier, while its net payments margin stood at 13 basis points.
CEO Bipin Preet Singh expressed optimism about the company's future, highlighting its focus on digital payments, financial services, and sustainable growth.
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