MobiKwik turns profitable in Q3FY26 on revenue growth, lower costs
Fintech firm MobiKwik reported a consolidated net profit of ₹4.04 crore in Q3FY26, aided by revenue growth and a sharp decline in expenses, after posting losses in earlier quarters
 "MobiKwik turns profitable in Q3FY26 on revenue growth, lower costs")
Fintech firm MobiKwik posted a consolidated net profit of ₹4.04 crore in the third quarter of the financial year 2025–26 (Q3FY26), after it had reported a wider net loss of ₹53.18 crore in Q3FY25.
Sequentially, the Gurugram-based company had posted a loss of ₹16.74 crore in Q2FY26.
MobiKwik’s revenue from operations grew 7.22 per cent to ₹288.94 crore in Q3FY26, compared with ₹269.47 crore in Q3FY25. On a quarter-on-quarter basis, revenue rose 6.93 per cent from ₹270.21 crore in Q2FY26.
The firm’s other income grew 65.74 per cent to ₹8.27 crore in Q3FY26 from ₹4.92 crore in Q3FY25. Other income declined 9.23 per cent sequentially from ₹9.11 crore in Q2FY26.
Other income refers to income from sources such as dividends or interest, among other non-core activities.
MobiKwik’s total expenses declined 11 per cent to ₹282.24 crore in Q3FY26 from ₹317.14 crore in Q3FY25. Sequentially, expenses remained almost flat at ₹285.7 crore in Q2FY26.
The company said it has a user base of 186.6 million users and 4.79 million merchants.
It added that its unencumbered cash balance stood at ₹424.4 crore, deployed in fixed deposits and current accounts.
The company stated that the impact from lower incentives following the culmination of the Payments Infrastructure Development Fund (PIDF) scheme and Unified Payments Interface (UPI) subsidy was not material, adding that these represented about 0.4 per cent of quarterly revenue.
The PIDF scheme was introduced to promote the deployment of digital payments acceptance infrastructure in Tier-III to Tier-VI locations, the north-eastern states, and the Union Territories of Jammu and Kashmir and Ladakh.
The Reserve Bank of India (RBI) extended the scheme by two years in 2023, making it valid until December 2025. As of November 2023, the total corpus of the scheme stood at ₹1,026.37 crore.
The scheme was originally launched in 2021. So far, the central bank has not notified any extension or replacement of the scheme. Payments acceptance infrastructure under PIDF includes physical point-of-sale terminals and quick response codes.
The scheme also covers beneficiaries of the PM Street Vendor’s AtmaNirbhar Nidhi in Tier-I and Tier-II centres.