One MobiKwik Systems reported its fourth consecutive profitable quarter in the September quarter of FY27, with consolidated net profit of Rs 11.8 crore, compared with a net loss of Rs 28.6 crore in the year-ago period.
The fintech company's profit after tax (PAT) marked its highest-ever quarterly level, with a positive swing of Rs 40.4 crore year-on-year, One MobiKwik Systems said, in a press release.
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The company's reported EBITDA also turned positive at Rs 22.7 crore in Q2 FY27, against a loss of Rs 6.4 crore in the corresponding quarter last year. MobiKwik said this was its highest-ever quarterly EBITDA, marking a positive swing of Rs 29.1 crore and its fourth consecutive quarter of EBITDA profitability.
Revenue from operations increased 9% year-on-year to Rs 295.7 crore in the September quarter, compared with Rs 270.2 crore in Q2 FY26. Total income rose 8% to Rs 302.8 crore from Rs 279.3 crore in the year-ago period.
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The company attributed its performance to accelerating growth in its payments business, higher lending disbursements and improved operating margins across its core businesses. Contribution profit increased 50% year-on-year to Rs 143.9 crore in Q2 FY27, compared with Rs 96.1 crore in the corresponding quarter last year.
MobiKwik Q2 Results: Payments Business Drives GMV Growth
MobiKwik's platform gross merchandise value (GMV) reached an all-time quarterly high of Rs 59,677 crore in Q2 FY27, registering a 35% increase from Rs 44,114 crore in the year-ago quarter. The figure was also higher than the Rs 58,684 crore recorded in Q1 FY27.
Consumer payments GMV grew 27% year-on-year to Rs 46,375 crore, compared with Rs 36,568 crore in Q2 FY26. The company also reported a 150% year-on-year increase in revenue from merchant payments during the quarter.
The payments business witnessed an improvement in unit economics, with gross margin expanding 884 basis points to 38.2% in Q2 FY27, against 29.4% in the corresponding quarter last year.
MobiKwik's registered user base increased to 196.3 million from 183.5 million a year earlier, reflecting continued expansion of its digital payments ecosystem.
Lending Disbursements Rise 34% YoY
The company's financial services business also reported growth during the quarter, with lending disbursement GMV increasing 34% year-on-year to Rs 1,082.6 crore from Rs 807.1 crore in Q2 FY26. Disbursements were also up 47% sequentially from Rs 736.7 crore in the June quarter.
Credit partner assets under management (AUM) increased 19% year-on-year to Rs 1,488 crore, compared with Rs 1,251.4 crore in the year-ago quarter. Activated credit users rose to 1.74 million from 1.42 million in Q2 FY26.
Financial Services gross profit more than doubled to Rs 57.1 crore during the September quarter, compared with Rs 25.6 crore a year earlier. Net Financial Services margin improved to 5.27% from 3.17% in Q2 FY26, which the company attributed to improvements in credit quality.
MobiKwik Steps Up AI Adoption, Targets AI-First Status By FY28
Alongside its financial performance, MobiKwik highlighted increased adoption of artificial intelligence across engineering, lending, customer experience and risk management, as it works towards becoming an AI-first organisation by FY28.
The company said AI-generated code accounted for 92% of its total code in Q2 FY27, compared with 80% in the previous quarter, helping accelerate its go-to-market timelines by 55%.
Its AI-powered collections platform facilitated 55% of early collections and improved collection rates by 33%. Voice AI also delivered 30-40% higher connect rates, according to the company.
In customer experience, 91% of customer queries were resolved through its Help LLM platform, while AI audited 100% of customer interactions for quality. In risk management, the company said all its product requirement documents were assessed by an AI agent, while fraud pattern detection was entirely AI-led. Between 40% and 70% of fraud-related grievances were also resolved using AI.
On the performance, MobiKwik Co-founder, Managing Director and CEO Bipin Preet Singh said the fourth consecutive profitable quarter reflected the company's progress towards building a sustainable business. He highlighted the milestone of crossing Rs 1,000 crore in lending disbursements and the 150% year-on-year growth in merchant payments revenue.
Singh added that continued cost optimisation, operating efficiency and the integration of AI across business functions would support profitability as the company scales its operations.
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