Business · India Bureau
MobiKwik Returns to Profit in Q2 as Revenue Growth Accelerates
Digital payments platform MobiKwik has swung to profitability in the second quarter of the current fiscal year, posting a consolidated net profit of Rs 11.8 crore against a loss of Rs 28.6 crore in the corresponding quarter last year. The turnaround comes alongside a 9 per cent increase in revenues.
LSN India ·
MobiKwik's financial performance marks a significant recovery for the fintech company as it navigates India's competitive digital payments landscape. The swing from red to black represents a turnaround of approximately Rs 40.4 crore year-on-year, signalling improved operational efficiency and cost management.
The Mumbai-headquartered payments platform has been focusing on expanding its user base and transaction volumes amid intense competition from established players. The 9 per cent revenue growth in Q2 FY27 reflects the company's ability to sustain business momentum even as it works toward sustainable profitability.
The profitability milestone comes at a time when India's digital payments sector continues to witness robust growth, driven by increasing smartphone penetration and growing merchant adoption across tier-2 and tier-3 cities. MobiKwik's return to profit suggests the company's business model adjustments are gaining traction.
The company's consolidated financial metrics indicate improved cash generation capabilities, potentially positioning it better for future investments in technology and market expansion. Analysts will be closely watching whether MobiKwik can sustain this profitability trajectory in subsequent quarters.