One MobiKwik Q1 loss widens to ₹42 cr as revenue falls 20.7% to ₹271 cr

Fintech firm One MobiKwik Systems has reported its consolidated loss widening to Rs 41.9 crore in the June quarter, compared to a loss of Rs 6.6 crore in the same period last year.

The Gurgaon-headquartered firm's revenue from operations stood at Rs 271.3 crore, a 20.7 per cent decline from Rs 342.2 crore in Q1 FY25, as per a regulatory filing.

Seen sequentially, losses narrowed from Rs 56 crore in Q4 FY25, while revenue saw an uptick of 1.3 per cent.

Total expenses were at Rs 312.8 crore during the first quarter of FY26, compared with Rs 343.6 crore in the same period last year. Payment gateway costs grew to Rs 142.8 crore, up from Rs 127.6 crore, while employee benefit expenses stood at Rs 41.9 crore, reflecting a modest increase from Rs 39.1 crore in the year-ago quarter.

The company, which concluded its IPO during the quarter ended December 31, 2024, stated that it has utilised Rs 214 crore of its net IPO funds as of June 30, 2025, out of a total corpus of Rs 530.5 crore.

The proceeds were used towards funding organic growth in financial services business (Rs 45.9 crore), funding organic growth in payment services business (Rs 69.9 crore), R&D in data, machine learning, artificial intelligence, product and technology (Rs 30.8 crore), capital expenditure payment devices business (Rs 2.4 crore), and general corporate purposes.

MobiKwik said it recorded the "highest-ever" quarterly payments GMV (Gross Merchandise Value) in Q1 FY26 at Rs 38,388.2 crore.

The company's user base stood at 180.2 million and merchant base at 4.64 Mn in Q1 FY26.

"We are pleased with the consistent progress across our core business. Payments demonstrated strong growth, and Financial Services recovered, resulting in an improved Q1 EBITDA, which reinforces our path to profitability. We remain focused on driving operating leverage and building for long-term value creation," said Upasana Taku, Executive Director, Co-founder and CFO, One MobiKwik Systems Ltd.