One MobiKwik Q2 Results: Company turns profitable at ₹12 crore; shares gain 7%

Shares of One Mobikwik Systems gained nearly 7% on Monday, November 2, after the company reported a consolidated net profit of ₹12 crore for the September quarter compared with a net loss of ₹28.6 crore in the corresponding quarter last year.

Revenue from operations increased 9.5% year-on-year (YoY) to ₹295.7 crore from ₹270 crore a year ago. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at ₹15.7 crore, compared with an EBITDA loss of ₹15.7 crore in the year-ago quarter.

Lending business transferred to wholly owned subsidiary

During the quarter, One MobiKwik transferred its Lending Service Provider (LSP) business to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited, with effect from August 18, 2026.

The transfer was executed on a going-concern basis through a slump sale for a consideration of ₹147.1 crore. The consideration was discharged by the subsidiary through the issuance of non-convertible debentures to One MobiKwik.

The company said the transaction was within the group and, therefore, was not treated as discontinued operations in its consolidated financial results.

IPO proceeds utilisation

As of September 30, 2026, the company had utilised ₹485.4 crore of its revised net initial public offering (IPO) proceeds of ₹534.4 crore, leaving ₹49 crore unutilised.

Of the amount utilised, ₹140.9 crore was deployed towards organic growth in the payments business, while ₹105.2 crore was used for research and development in data, machine learning, artificial intelligence and product technology. The company had also utilised ₹60.9 crore for investment in its lending subsidiary and ₹68.2 crore towards general corporate purposes.

The company operates in a single business segment comprising financial and payment services.

For the six months ended September 2026, consolidated revenue stood at ₹577.2 crore, compared with ₹541.6 crore in the year-ago period. The company reported a net profit of ₹19.4 crore for the half-year, against a net loss of ₹70.5 crore in the corresponding period last year.

Shares of the company gained about 7% following the results announcement, but have since pared some gains and were trading 2.5% up at ₹219.41 as of 1.18 pm. The stock has, however, declined nearly 5% so far in 2026 and about 17% over the last 12 months.