MobiKwik returned to profitability with an EBITDA of ₹15 crore in Q3 FY26
Payments GMV hit a record ₹48,100 crore, growing 63% year-on-year
UPI transactions surged 3.2x, making it a top-five fastest-growing UPI app
Digital wallet company One MobiKwik Systems on Tuesday reported a strong operating performance in the third quarter (Q3) of financial year 2026 (FY26). The company’s total income remained steady at ₹297.2 crores, reflecting a balanced and stable growth profile during the quarter.
Contribution profit surged 76% year-on-year and 34% quarter-on-quarter to ₹128.8 crore, highlighting the company’s continued focus on cost efficiency. Fixed costs as a percentage of total income declined to 38% in Q3 FY26 from 42% in Q3 FY25, indicating improved operating leverage.
3 February 2026
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EBITDA for the quarter stood at ₹15 crores, marking a return to profitability. This represents a significant sequential improvement of ₹57.60 crores year-on-year and ₹21.4 crore quarter-on-quarter, underscoring strengthened financial discipline and operational execution.
Commenting on the Company’s performance, Upasana Taku, Executive Director, Cofounder and CFO, MobiKwik, said: “We are pleased to report a profitable quarter, reflecting disciplined execution and sustained cost optimization across our businesses. Our focus on operating efficiency and thoughtful scaling has enabled us to achieve profitability while maintaining growth momentum. We were confident of achieving profitability in H2 FY26, and we are proud to have delivered on that commitment. Going ahead, we remain committed to scaling our platform responsibly and creating long-term value for our shareholders.”
Payments Business Performance
The company’s core payments business continued to deliver strong growth during the quarter, supported by improving unit economics and high operating leverage. It remained consistently ranked as the number one PPI wallet in India and was among the top five fastest-growing UPI apps in the country’s UPI ecosystem, recording a 3.2x year-on-year increase in UPI transactions.
Payments GMV touched an all-time high of ₹48,100 crores, registering a robust 63% year-on-year growth and an 11% quarter-on-quarter increase, marking the twelfth consecutive quarter of record-high GMV. The user base expanded to 186.6 million, while the merchant network grew to 4.79 million, reflecting continued scale-up across both consumers and businesses.
The company also reported best-in-class net payments processing margins of 17 basis points, driven by improved monetisation beyond UPI. As a result, gross margin in the payments business reached an all-time high of 37%, representing a 125% year-on-year expansion and a 36% quarter-on-quarter increase. Additionally, the company ranked as the seventh-largest customer operating unit in the BBPS ecosystem, reinforcing its strong position within India’s digital payments infrastructure.
