MobiKwik's Q2 loss widens to ₹28.6 cr amid 5% drop in total income

The fintech firm reported a ₹28.61 crore loss in Q2 FY26, citing a ₹40 crore fraud incident, even as expenses fell and partial recovery efforts were initiated

Fintech firm MobiKwik’s losses widened to ₹28.61 crore in the second quarter of the financial year 2026 (Q2 FY26), compared to a loss of ₹3.59 crore in the corresponding quarter of FY25. Sequentially, losses narrowed from ₹41.92 crore in Q1 FY26.

 

How did MobiKwik’s revenue perform in Q2 FY26?

 

The company’s total income, comprising revenue from operations and other income, declined 4.88 per cent year-on-year (Y-o-Y) to ₹279.32 crore in Q2 FY26 from ₹293.66 crore in Q2 FY25. On a quarter-on-quarter (Q-o-Q) basis, income marginally fell 0.9 per cent from ₹281.61 crore in Q1 FY26.

 

What steps has the fintech taken to control expenses?

 

MobiKwik tightened its cost structure during the quarter, with total expenses down 0.4 per cent to ₹285.7 crore in Q2 FY26 from ₹286.86 crore in the year-ago period. Sequentially, expenses declined 8.6 per cent from ₹312.8 crore in Q1 FY26, reflecting improved operational discipline.

 

What caused additional losses in Q2 FY26?

 

The company disclosed that some of its registered merchants and users fraudulently claimed unauthorised settlements amounting to ₹40.35 crore, resulting in a loss in Q2 FY26.

 

As of October, MobiKwik had recovered ₹21.92 crore and secured an additional ₹6.6 crore through merchant affidavits and court orders. The company said it is pursuing recovery of the remaining ₹11.83 crore, while an investigation into the technical breach of its application is ongoing.

 

What does MobiKwik’s user and merchant base look like?

 

MobiKwik reported a total user base of 183.5 million and 4.71 million merchants. During Q2 FY26, it added 3.3 million users and about 71,000 merchants, continuing its expansion in India’s competitive fintech landscape.