MobiKwik posted Rs 41.9 crore loss in Q1 FY26 as revenue fell 20.7% YoY, despite sequential margin improvement.

• Revenue dropped to Rs 271.3 crore from Rs 342.2 crore YoY; losses narrowed sequentially from Rs 56 crore in Q4.
• Total expenses fell YoY to Rs 312.8 crore; payment gateway and employee costs both rose modestly.
• IPO funds of Rs 214 crore were deployed; GMV hit record Rs 38,388.2 crore with 180.2M users and 4.64M merchants.