One MobiKwik Q1 Loss Widens to ₹41.9 Crore as Revenue Drops 21%

2 Aug 2025 , 11:49 AM

Fintech company One MobiKwik Systems posted a widened consolidated net loss of ₹41.9 crore for the April–June quarter of FY26. This is a sharp increase from the ₹6.6 crore loss recorded in the same period a year ago.

The company’s revenue from operations declined 20.7% year-on-year, coming in at ₹271.3 crore for the quarter. This is down from ₹342.2 crore in Q1 FY25, according to a regulatory filing.

However, when compared to the previous quarter (Q4 FY25), the numbers reflected sequential improvement. The revenue had grown by 1.3% and losses narrowing from ₹56 crore.

Total expenses for the quarter stood at ₹312.8 crore, a drop from ₹343.6 crore a year earlier. While overall costs declined, payment gateway charges rose to ₹142.8 crore, up from ₹127.6 crore in Q1 FY25. Employee benefit expenses also saw a slight increase, touching ₹41.9 crore from ₹39.1 crore in the same period last year.

Despite the bottom-line pressure, the company reported a key operational high, its highest-ever quarterly Gross Merchandise Value (GMV) in the payments segment, which stood at ₹38,388.2 crore.

MobiKwik’s user base reached 180.2 million, while its merchant network expanded to 4.64 million during the first quarter, reflecting the company’s continued growth in digital payments adoption.

As of June 30, MobiKwik has deployed ₹214 crore out of the ₹530.5 crore raised through its IPO, which was completed in December 2024. The fund utilisation breakdown includes:

• ₹69.9 crore for expanding the payment services vertical
• ₹45.9 crore invested in financial services growth
• ₹30.8 crore earmarked for R&D in data science, AI, ML, and product development
• ₹2.4 crore allocated for capex in payment devices
• The remaining funds used for general corporate expenses

Speaking on the quarterly performance, Upasana Taku, Co-founder, Executive Director, and CFO, said: “We’re encouraged by the steady growth in our core operations. Our payments business delivered strong performance, and the financial services vertical showed signs of recovery. These trends, coupled with better EBITDA, keep us firmly on track toward profitability. Our focus remains on scaling sustainably and creating long-term value.”

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