MobiKwik posts Q4 profit after prior-year loss

Gurugram-based fintech company MobiKwik reported 2.9 billion rupees (US$30.4 million) in operating revenue for Q4 FY26 and a 44 million rupees (US$463,000) profit versus a 560 million rupees (US$5.9 million) loss a year earlier in its unaudited NSE filing.

For the year ended March 2026, revenue was flat at 11.2 billion rupees (US$118 million) while net loss narrowed to 620 million rupees (US$6.53 million) from 1.2 billion rupees (US$12.8 million).

Quarterly expenses fell 14% to 2.9 billion rupees (US$30.3 million) as lending operational costs dropped to 20 million rupees (US$211,000) from 410 million rupees (US$4.32 million).

The company also received RBI approval for an NBFC license.

🔗 Source: Entrackr

🧠 Food for thought

Implications, context, and why it matters.

MobiKwik’s NBFC approval lets it shift from loan middleman to direct lender

MobiKwik has so far offered credit through outside lending partners, instead of lending from its own balance sheet 1.
The Reserve Bank of India (RBI), India’s central bank, approved the group’s application for a Non-Banking Financial Company (NBFC) license. That clears the way for an in-house lending arm, MobiKwik Financial Services Private Limited (MFSPL), a wholly owned subsidiary 2.
The setup should give the company more say over borrower checks, risk control and collections. It could also lift lending margins over time, rather than mostly collecting distribution or partnership fees 2.
The stock rose as much as about 15%, though that figure does not appear in the quarterly earnings update 2.

India’s buy now, pay later boom comes with more risk

MobiKwik is expanding in India’s Buy Now, Pay Later (BNPL) segment, which could reach US$91.86 billion by 2031. Mordor Intelligence, a market research firm, puts credit-card penetration at about 5% of adults 3.
Late payments are climbing too, with self-reported missed dues among users nearing 41 to 42% 4.
Regulators are taking a closer look. Draft rules would treat BNPL balances more like formal loans, raising compliance costs and squeezing some non-bank models that depend on regulated partners 3.
Its in-house NBFC plan still depends on conditions and the final Certificate of Registration. If completed, it should help MobiKwik handle tighter rules while giving it firmer control over profit on each loan 5.