Every earnings season comes with its own set of stories—some expected, some surprising, and a few that make you pause and take a deeper look.
This time, MobiKwik Q2 results fall into that last category.
The digital payments and financial services company reported its quarterly numbers, and the data paints a picture of shifting trends, increased costs, and one significant exceptional event that shaped the loss for the period.
Market Performance Overview
While the stock market today continues to focus on digital payments players and fintech momentum, the latest MobiKwik earnings capture the financial reality behind the sector’s growth cycle.
The company’s Q2 performance shows a mix of soft topline numbers and higher expenses, leading to a wider consolidated loss.
Main News: Q2 Income Down, Loss Expands Due to Exceptional Item
MobiKwik reported its consolidated total income at ₹2,793.27 million, reflecting a 4.9% decline from ₹2,936.68 million in the same quarter last year.
Its revenue from operations for the quarter also came in lower at ₹2,702.11 million, compared to ₹2,906.46 million in the previous year’s corresponding period.
Financial Snapshot
- Total Income: ₹2,793.27 million
- YoY Decline: 4.9%
- Revenue from Operations: ₹2,702.11 million
- Net Loss: ₹286.15 million
- Net Loss Last Year: ₹35.94 million
- Exceptional Item: ₹118.30 million
The exceptional loss stems from a fraud incident involving unauthorised settlements conducted by certain merchants and users who exploited a technical bug in the app.
Fraud-Related Details
- Total unauthorised settlements: ₹403.59 million
- Recovered amount: ₹219.27 million
- Additional recovery: ₹66.02 million (via court orders/affidavits)
- Remaining balance: ₹118.30 million (fully provided in Q2 results)
Company Details: Cost Structure and Business Segments
MobiKwik’s total expenses for the quarter stood at ₹2,857.03 million, slightly lower than ₹2,868.64 million last year.
Key contributors to the cost structure included:
- Payment processing charges
- Lending operational expenses
- Financial guarantee expenses
Even with cost optimisation efforts, the overall expense load remained elevated due to the scale of operations across both payments and lending businesses.
Segment-Wise Performance: Payments & Digital Finance
Despite the financial challenges, the company continued to scale its digital ecosystem across payments and financial services.
Payments Business
The payments vertical, which forms the backbone of its digital operations, saw strong platform activity.
- Highest-ever quarterly GMV
- GMV growth: 53% YoY and 13% QoQ
- User base: 183.5 million
- Merchant base: 4.71 million
These numbers highlight sustained engagement and expansion in India’s digital payments landscape.
Digital Finance Business
MobiKwik’s lending and credit-led digital finance segment also showed growing traction.
- ZIP EMI GMV grew 16% QoQ
- Digital finance GMV: ₹8,071 million
- Gross margin increased to 42%
The lending operations continued to see rising demand and improving unit economics.
Balance Sheet Position
As of September 30, 2025, the company reported:
- Total Assets: ₹13,981.37 million
- Cash & Cash Equivalents: ₹1,372.27 million
The cash position provides a cushion as the business navigates both operational growth and recovery of outstanding amounts related to the fraud incident.
Summary
The MobiKwik Q2 results reflect a quarter shaped by softer income, higher losses, and the impact of a one-time exceptional event.
While the financials show pressure, both the payments and digital finance segments continue to scale, supported by rising GMV, strong user adoption, and expanding merchant participation.
This quarter’s performance gives a clear look at how the digital payments player is balancing growth, risk management, and operational challenges within India’s evolving fintech environment.
Easy & quick
Leave A Comment?