MobiKwik’s Q2 Snapshot, Pixxel Clears The Air & More

MobiKwik reported its strongest quarterly profit in FY27, driven by a 9.4% YoY increase in operating revenue to ₹295.7 Cr. The fintech firm's expenses declined slightly by 1.8% YoY, leading to a record EBITDA profit of ₹22.7 Cr. MobiKwik's financial services business saw a significant rise, with higher loan disbursements and more lending partners, while the payments business experienced mixed results due to a transaction mix skewed towards lower-revenue transactions.

Pixxel CEO Awais Ahmed clarified that the US subsidiary, Pixxel Federal, remains wholly Indian-owned, managing and controlled. The spacetech startup plans to go public in India in the future. Fireside Ventures co-founder Vinay Singh resigned after a decade-long tenure, planning to explore agentic commerce. ESDS reported a 40.7% YoY jump in net profit to ₹31.1 Cr, with operating revenue growing 48% to ₹138.3 Cr.

The company secured a $1.25 Bn AI cloud infrastructure deal with an Australia-based provider. UPI transaction volume reached 25.47 Bn in October, marking a 5.8% MoM increase, driven by festive-season spending. Pronto founder Anjali Sardana's venture, Provision Labs, acquired Mumbai-based hardware startup Basilisk, bringing Watwani on board to lead hardware efforts.

Indrajaal, a new AI startup, aims to build an integrated platform to detect, identify and neutralise hostile drones in real-time, securing India's airspace.