- One MobiKwik aims to be profitable by the second half of FY26 according to its CFO
- Q1FY26 EBITDA loss was Rs 31 crore, improved from Rs 45 crore loss in Q4FY25
- Fixed costs remained stable between Rs 104 crore and Rs 108 crore over five quarters
One MobiKwik Systems Ltd., the owner of the Mobikwik payments platform, is aiming to become profitable by the second half of FY26, according to its Co-founder and CFO, Upasana Taku.
In a conversation with NDTV Profit, she highlighted the leading fintech's recovery from a challenging Q3 and Q4 of the financial year 2024-25, driven by robust growth in its core payments business and a rebound in financial services.
“We were at about negative Rs 45 crore in Ebitda (in Q4FY25) and this quarter (Q1FY26), we are negative Rs 31 crores. We covered almost 15 crores in one quarter. If we continue to do similarly for the next two quarters, then we should be profitable in two quarters,” Taku said.
“Even if we are not able to do Rs 15 crore every quarter, then we should still be able to recover in the last quarter of this year. We feel confident that in the second half of this year, we should be able to turn profitable,” the top executive added.
A disciplined approach to cost management has been a key pillar of the company's strategy. Fixed costs have been held stable between Rs 104 crore and Rs 108 crore for the past five quarters. Direct costs related to payments and lending have been optimised by five to six per cent from Q4FY25 to Q1FY26.
Addressing concerns about customer acquisition costs (CAC), Taku acknowledged a marginal increase due to reliance on platforms like Google and Meta, compounded by the dollar-rupee exchange rates.
However, she noted that CAC of Rs 40 remains among the lowest in India's fintech sector. “We aim to keep it in the Rs 30-40 range while diversifying our acquisition channels,” she said.
Taku did not provide a specific timeline for further reductions.
The top executive is optimistic about returning to high growth rates once the current "recovery year" is complete. "This year will end up being a recovery year for us, and then we expect that we will be able to deliver strong growth year-on-year (YoY)," she said.
“As a fast-growing fintech company, if you don't expect the 30% to 50% growth year-over-year, then what are the investors really looking for?” she added.
In Q1FY26, the company's payments business recorded a 53% YoY growth. Its Gross Merchandise Value (GMV) increased 16% quarter-on-quarter (QoQ). Loan disbursals for its ZIP EMI and personal loan products grew by 31% over the last quarter but declined 21% YoY.
Shares of One MobiKwik Systems were trading 1.01% lower at Rs 238.7 apiece on the NSE at 1:38 p.m. on Tuesday, while the benchmark Nifty50 stood at 24,618.2, down 0.42%.
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