MobiKwik Q2 PAT reaches ₹11.8 crore, EBITDA ₹22.7 crore

One MobiKwik Systems Limited reported its highest quarterly profit after tax of ₹11.8 crore in Q2 FY27, compared with a ₹28.6 crore loss a year earlier, while EBITDA reached ₹22.7 crore from a ₹6.4 crore loss. The quarter ended September 30, 2026 marked MobiKwik’s fourth consecutive profitable quarter.

How did MobiKwik’s Q2 FY27 profit compare with last year?

MobiKwik’s profit after tax, or PAT, was ₹11.8 crore in Q2 FY27, a positive swing of ₹40.4 crore from the ₹28.6 crore loss in Q2 FY26. The company said this was its highest-ever quarterly PAT, and it was also 55% higher than in Q1 FY27. The result marked the company’s fourth consecutive profitable quarter, according to the November 2, 2026 earnings release.

Earnings before interest, tax, depreciation and amortisation, or EBITDA, moved to ₹22.7 crore in Q2 FY27 from a ₹6.4 crore loss in Q2 FY26. That represented a ₹29.1 crore improvement and MobiKwik’s highest quarterly EBITDA. EBITDA margin rose to 7.5% from negative 2.3% a year earlier and from 5.5% in Q1 FY27, an increase of 977 basis points year on year.

What drove MobiKwik’s improved profitability?

MobiKwik attributed the Q2 FY27 outcome to accelerating gross merchandise value, or GMV, growth and improved operating margins across Payments and Financial Services. Revenue from operations increased 9% year on year to ₹295.7 crore, while total income was ₹302.8 crore. Contribution Profit rose 50% to ₹143.9 crore, exceeding the 9% revenue growth rate.

Contribution margin expanded to 47.5% in Q2 FY27 from 34.4% in Q2 FY26 and 44.5% in Q1 FY27. In Payments, gross margin increased 884 basis points year on year to 38.2% from 29.4%. MobiKwik reported that this reflected improved unit economics in the Payments business, while Financial Services also recorded higher gross profit and net margin.

MobiKwik co-founder, managing director and chief executive officer Bipin Preet Singh said the company had crossed ₹1,000 crore in lending disbursals and recorded 150% year-on-year revenue growth in Merchant Payments. He said management believed operating leverage would compound as MobiKwik developed into an AI-first company, alongside its stated focus on cost optimisation and operating efficiency.

How fast did MobiKwik’s Payments business grow?

MobiKwik’s platform GMV reached a quarterly record of ₹59,677 crore in Q2 FY27, up 35% from ₹44,114 crore in Q2 FY26. It also increased sequentially from ₹58,684 crore in Q1 FY27. The company described the figure as an all-time quarterly high for the transaction platform.

Consumer Payments GMV was ₹46,375 crore, up 27% from ₹36,568 crore in Q2 FY26. Merchant Payments revenue grew 150% year on year, although MobiKwik did not disclose the segment’s rupee revenue in the release. Registered users reached 196.3 million, compared with 183.5 million in the comparable prior-year quarter.

Payments gross margin was 38.2% in Q2 FY27, compared with 29.4% in Q2 FY26, an expansion of 884 basis points. MobiKwik linked that increase to improved unit economics, while its platform GMV rose by ₹15,563 crore year on year from ₹44,114 crore.

What changed in MobiKwik’s Financial Services business?

MobiKwik’s lending disbursal GMV rose 34% year on year to ₹1,082.6 crore in Q2 FY27 from ₹807.1 crore in Q2 FY26. It also grew 47% sequentially from ₹736.7 crore in Q1 FY27. The quarterly disbursal figure crossed the ₹1,000 crore milestone cited by management.

Credit Partner assets under management, or AUM, stood at ₹1,488 crore, up 19% from ₹1,251.4 crore in Q2 FY26. Activated credit users reached 1.74 million, compared with 1.42 million a year earlier. Financial Services Gross Profit more than doubled to ₹57.1 crore from ₹25.6 crore, while Net Financial Services Margin increased to 5.27% from 3.17%.

MobiKwik said credit-quality improvements flowed through to net margins. The company also said it remained focused on scaling credit offerings through a calibrated approach to growth, collections and risk management. That stated approach accompanied lending disbursal growth of 34% year on year and 47% quarter on quarter.

How is MobiKwik using AI across operations?

MobiKwik said 92% of its code was generated through artificial intelligence, or AI, in Q2 FY27, up from 80% in the previous quarter. The company said this contributed to a 55% faster go-to-market process. Its stated target is to become an AI-first organisation by FY28.

In lending operations, MobiKwik said its AI-powered collections platform handled 55% of early collections and improved collection rates by 33%. Voice AI produced 30% to 40% higher connect rates, according to the release. The company also said 91% of customer queries were solved by its Help large language model, or LLM, and that AI audited 100% of customer connects for quality.

For risk management, MobiKwik reported that an AI agent assessed 100% of product requirement documents, or PRDs, for risk, and that fraud-pattern detection was fully AI-led. It added that AI resolved 40% to 70% of fraud-related grievances. These are operational measures disclosed by the company rather than separate financial estimates for AI-led savings or revenue.

Conclusion

MobiKwik’s Q2 FY27 release shows a move from year-earlier losses to record quarterly profitability: PAT reached ₹11.8 crore and EBITDA reached ₹22.7 crore, while Contribution Profit rose 50% to ₹143.9 crore. Payments platform GMV grew 35% to ₹59,677 crore and lending disbursals grew 34% to ₹1,082.6 crore, alongside higher reported margins in both businesses.

The next disclosed milestone is MobiKwik’s plan to become an AI-first organisation by FY28. The next quarters will show whether the 7.5% EBITDA margin, 47.5% contribution margin, 150% Merchant Payments revenue growth and 47% sequential growth in lending disbursals continue under management’s calibrated approach to credit growth, collections and risk management.