MobiKwik turns PAT profitable in Q3 FY26; Delivers strong upswing of INR 593 Mn YoY
- EBITDA stood at INR 150 Mn, reflecting a sharp turnaround with a INR 576 Mn YoY improvement
- Contribution Profit rose 76% YoY (34% QoQ), driven by operating leverage and cost discipline
- Revenue grew 8% YoY (6% QoQ) to INR 2972 Mn
- Payments GMV hit an all-time high of ₹481 billion, marking a record high for the 12th quarter in a row.
- UPI transactions surged 3.2x YoY; Amongst Top 5 fastest-growing UPI apps [1] in India’s UPI ecosystem
Hyderabad, February 2026: One MobiKwik Systems Ltd. (MobiKwik) (NSE: MOBIKWIK / BSE: 544305), India’s largest digital wallet[2], today announced its earnings results (standalone and consolidated) for the quarter ended December 31, 2025. The Company reported a profitable quarter, underpinned by strong execution across its Payments and Financial Services businesses. This marks a significant inflection point as MobiKwik transitions to profitability while continuing to scale its platform & strengthens its role in enabling digital financial access across Bharat.
Key Financials:
Q3FY26 Vs Q3FY25 Highlights | |||||||
|
Payments GMV |
ZIP EMI GMV (Loans) |
Total Income |
Contribution Profit |
EBITDA |
PAT | |
Q3FY26 | 480,640 | 9,000 | 2,972 | 1,288 | 150 | 47 | |
Q3FY25 | 294,456 | 3979 | 2,745 | 730 | -426 | -553 | |
YoY Growth | 63% | 126% | 8% | 76% | 576 Mn | 593 Mn | |
All amounts are in INR Mn
The company delivered a strong operating quarter in Q3FY26 through sharp cost control & healthy margin expansion. Operational discipline led to a INR 576 Mn EBITDA swing on YoY basis, delivering PAT profitability.
Headline Results for the Quarter Ended December 31, 2025
Consolidated Financials
● Total income remained steady at INR 2,972 Mn, reflecting a balanced growth profile
● Contribution profit increased 76% YoY (34% QoQ) to INR 1,288 Mn, underscoring continued focus on cost efficiency
● Fixed Costs as a % of Total Income reduced to 38% in Q3FY26 from 42% Q3FY25
● EBITDA for Q3 FY26 stood at INR 150 Mn, marking a profitable quarter with a sequential improvement of INR 576 Mn YoY (INR 214 Mn QoQ)
Payments
The Company’s core payments business continued to deliver strong growth with improving unit economics and high operating leverage.
● Consistently ranked as the #1 PPI Wallet in India
● Ranked amongst Top 5 Fastest Growing UPI Apps[1] in India’s UPI Ecosystem, achieving 3.2x YoY growth in UPI transactions
● Payments GMV hit an all-time high of ₹481 billion, growing at 63% YoY (11% QoQ), marking a record high for the 12th quarter in a row.
● User base grew to 186.6 Mn and merchant base expanded to 4.79 Mn
● Best-in-class Net payments processing margin of 17 bps, reflecting improved monetisation beyond UPI
● Consequently, gross margin for the payments business reached an all-time high of 37%, reflecting a 125% YoY expansion (36% QoQ)
● #7th largest Customer Operating Unit [3] in the BBPS ecosystem
Financial Services
Financial Services Business makes a turnaround, delivering High-Quality Revenue on the back of enhanced credit quality and collection efficiency.
● ZIP EMI GMV grew 126% YoY (12% QoQ), reflecting renewed momentum in the lending business
● ZIP EMI GMV reached an all-time high of INR 9,000 Mn, surpassing previous peak levels and marking a full recovery from the interim slowdown
● Financial services Gross Profit at INR 372 Mn, up by 405% YoY (45% QoQ)
● Net FS Margin Quadrupled YoY from 1.05% in Q3FY25 to 4.13% in Q3FY26, owing to improvement in credit quality
The improvement across these metrics reflects a complete recovery in the Lending business. With profitability firmly re-established, the Company is well positioned to accelerate growth across its digital financial services portfolio in a calibrated and sustainable manner.
Commenting on the Company’s performance, Upasana Taku, Executive Director, Co-founder and CFO, MobiKwik, said: “We are pleased to report a profitable quarter, reflecting disciplined execution and sustained cost optimization across our businesses. Our focus on operating efficiency and thoughtful scaling has enabled us to achieve profitability while maintaining growth momentum. We were confident of achieving profitability in H2 FY26, and we are proud to have delivered on that commitment. Going ahead, we remain committed to scaling our platform responsibly and creating long-term value for our shareholders.”
