Fintech company MobiKwik reported yet another loss-making quarter, with its consolidated net loss surging nearly 535% to INR 41.9 Cr in Q1 FY26 from INR 6.6 Cr in the year-ago quarter. Sequentially, net loss narrowed 25.2% from INR 56 Cr.
Operating revenue declined 20.7% to INR 271.4 Cr during the quarter under review from INR 342.3 Cr in Q1 FY25. On a QoQ basis, revenue rose marginally from INR 267.8 Cr.
Including other income of INR 10.3 Cr, the company’s total income fell to INR 281.6 Cr in the June quarter from INR 345.82 Cr a year ago.
The fintech company’s top line cratered primarily on the back of a weak performance by the financial services vertical as loan disbursals and margins plummeted. As a result, MobiKwik reported an EBITDA loss of INR 31.2 Cr in Q1 FY26 compared to an EBITDA profit of INR 2.2 Cr in the year ago quarter. Sequentially, EBITDA loss improved from a loss of INR 45.8 Cr.
“… Payments demonstrated strong growth and financial services recovered resulting in an improved Q1 EBITDA, which reinforces our path to profitability. We remain focused on driving operating leverage and building for long-term value creation,” said MobiKwik cofounder, CFO and executive director Upasana Taku.
(The story will be updated soon)
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