MobiKwik reports profit turnaround in Q2
Indian fintech firm MobiKwik posted a net profit of Rs 11.8 crore for the second quarter, reversing a loss from the same period last year driven by margin improvements.
MobiKwik has moved to a consolidated net profit of Rs 11.8 crore for the second quarter of fiscal year 2027, recovering from a loss of Rs 28.6 crore in the same period last year. Revenue from operations reached Rs 295.7 crore, marking a 9% year-on-year increase.
The improvement in bottom-line performance is attributed to wider margins across payment and financial services, alongside a reduction in payment processing charges. The company's Gross Merchandise Value (GMV) reached a record Rs 59,677 crore, up 34% from the previous year. While core payments revenue remained flat, financial services revenue saw a significant 42% growth.
Operationally, the company is shifting toward AI-led internal processes. MobiKwik reports that 92% of its code is now generated via AI, with the company aiming for full AI-first operations by fiscal year 2028. Technologies are currently being deployed for fraud detection, customer query resolution through Large Language Models, and credit risk assessment.
Total expenses for the quarter fell by 2% to Rs 280.1 crore. Costs related to lending and payments decreased due to improved underwriting performance and a shift in product mix, reinforcing the company's focus on profitability alongside scale.