MobiKwik Share Price Drops 2.80%; Payments GMV Surges 53% YoY in Q1 FY26 Results

One MobiKwik Systems Limited has posted its earnings for the quarter ended June 30, 2025, showcasing growth across its core payments and digital finance verticals.

Payments Business Delivers Growth

The payments segment, MobiKwik’s core business, recorded a 53% YoY and 16% QoQ jump in Gross Merchandise Value (GMV), reaching ₹384 billion. This growth was underpinned by increased user engagement and an expanding registered user base, now at 180.2 million, with merchant partners totaling 4.64 million.

Net payments margin remained steady at 15 basis points, reflecting the platform’s operational efficiency. The business achieved its highest-ever gross margin of 28%, a 12% YoY improvement. Payments revenue grew by 24% YoY, and the Absolute Contribution Margin rose 22% QoQ, aided by a reduction in direct costs.

Digital Financial Services at Inflection Point

MobiKwik’s digital lending business continued its momentum, with EMI disbursals rising 31% QoQ to ₹6,931 million. Improved take rates (8%) and higher gross margins (13.3%) signaled a strong turnaround from Q4 FY25, which the company believes was the low point in both volume and margin terms. The financial services division is now positioned for scalable growth, with plans to expand through distribution-led strategies in addition to its existing Digital Lending Gateway (DLG) model.

Strategic Expansion into New Financial Services

Following its full Payment Gateway license approval for Zaakpay, MobiKwik secured a Stock Broking license during the quarter. These developments are key milestones in the company’s journey to becoming an integrated financial services platform, offering users a one-stop solution for payments, credit, and investments.

Cost Efficiency and EBITDA Surge

Operational discipline continues to yield results. EBITDA grew 32% QoQ, driven by improved contribution margins and steady fixed costs (₹1,086 million). The company also saw a 5% reduction in payment gateway and user incentive costs, and a 6% decline in lending-related expenses.

One MobiKwik Systems Share Price Performance

On August 1, 2025, One MobiKwik Systems share price (NSE: MOBIKWIK) opened at ₹244.00, down from its previous close of ₹245.57. At 11:43 AM, the share price of One MobiKwik Systems was trading at ₹238.70, down by 2.80% on the NSE.

Also Read: Mobikwik Securities Receives SEBI Certificate to Operate as Stock Broker and Clearing Member!

Conclusion

With growth in payments and lending, cost control, and regulatory wins in broking and gateway services, MobiKwik is well-positioned to accelerate its transformation into a comprehensive fintech platform.

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