One Mobikwik Systems Q2 FY27: PAT ₹76 & Rev ₹2,815 Cr

Investor Takeaways

PAT of ₹76 Cr marks a ₹495 Cr YoY swing to profitability, driven by 50% YoY GMV growth to ₹587 Bn and 5x increase in Net Financial Services Margin to 5.9%.

Revenue rose 4% YoY to ₹2,815 Cr, with EBITDA improving by ₹470 Cr YoY to ₹158 Cr.

Three consecutive profitable quarters and expansion to 193 Mn users and 5.02 Mn merchants support sustainable growth in digital financial services.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹2815 Cr	4%
Net Profit	₹76 Cr	₹495 Cr
EBITDA	₹158 Cr	₹470 Cr
EPS	[amount not verified]
OPM	5.6%

What Changed

The filing reveals a fundamental shift toward embedded profitability and scalable growth in digital financial services. The company achieved a ₹495 Cr YoY PAT swing to ₹76 Cr, supported by a 50% YoY surge in GMV to ₹587 Bn and a 5x jump in Net Financial Services Margin to 5.9%. Revenue growth of 4% YoY to ₹2,815 Cr, coupled with EBITDA expansion of ₹470 Cr to ₹158 Cr, underscores improving operational efficiency. The user base grew to 193 Mn and merchant base to 5.02 Mn, reflecting strong adoption of UPI and lending services. Three consecutive profitable quarters validate a durable business model, with management emphasizing calibrated expansion in digital financial services. The results indicate a transition from growth investment to sustainable profitability, supported by improved credit quality and transaction volume momentum.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
One Mobikwik Systems Limited	Not available	Not available	Not available	1,487.21
HDFC Bank Limited	15.5	14.3%	24.4%	1,181,607.38
ICICI Bank Limited	15.47	N/A	N/A	8,92,242
State Bank of India	10.44	N/A	N/A	8,89,093.09

One Mobikwik operates at a significantly smaller scale compared to established banks, with a market capitalization roughly 800 times smaller than HDFC Bank. However, its P/E ratio is not directly comparable due to lack of earnings history prior to recent profitability. The company’s growth metrics in GMV and user expansion outpace traditional banking peers, though its financial margins and capital efficiency remain distinct from large-scale banking operations.

Risks & Concerns

No specific risks identified in this filing.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	269.48	-55.28	-17.69
Q2FY25	290.65	-3.59	1.3

CRITICAL: The Quarterly Trend section is included as quarterly data was provided in the context.

Overall Tone: Neutral

Overall Tone: Neutral based on the numbers only.

The results reflect a pivotal inflection point with profitability achieved and scaled, but the company remains in an early growth phase with limited comparability to large financial institutions. Growth momentum is evident, yet scale and market maturity differ significantly from established peers.

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About One Mobikwik Systems Limited (MOBIKWIK)

Financial Services · Financial Technology (Fintech) · Listed on NSE

Market Cap: ₹1,487.21 Cr

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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