One MobiKwik Systems Q1 loss widens to ₹42 cr; revenue declines 20.7% to ₹271 cr
The Gurgaon-headquartered firm's revenue from operations stood at ₹ 271.3 crore, a 20.7 per cent decline from ₹ 342.2 crore in Q1 FY25, as per a regulatory filing.
Seen sequentially, losses narrowed from ₹ 56 crore in Q4 FY25, while revenue saw an uptick of 1.3 per cent.
Total expenses were at ₹ 312.8 crore during the first quarter of FY26, compared with ₹ 343.6 crore in the same period last year. Payment gateway costs grew to ₹ 142.8 crore, up from ₹ 127.6 crore, while employee benefit expenses stood at ₹ 41.9 crore, reflecting a modest increase from ₹ 39.1 crore in the year-ago quarter.
The company, which concluded its IPO during the quarter ended December 31, 2024, stated that it has utilised ₹ 214 crore of its net IPO funds as of June 30, 2025, out of a total corpus of ₹ 530.5 crore.
The proceeds were used towards funding organic growth in financial services business ( ₹ 45.9 crore), funding organic growth in payment services business ( ₹ 69.9 crore), R&D in data, machine learning, artificial intelligence, product and technology ( ₹ 30.8 crore), capital expenditure payment devices business ( ₹ 2.4 crore), and general corporate purposes.
MobiKwik said it recorded the "highest-ever" quarterly payments GMV (Gross Merchandise Value) in Q1 FY26 at ₹ 38,388.2 crore.
The company's user base stood at 180.2 million and merchant base at 4.64 Mn in Q1 FY26.
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