Fintech company MobiKwik’s consolidated net loss skyrocketed 694% to INR 28.6 Cr in the second quarter of the ongoing fiscal (Q2 FY26) from INR 3.6 Cr in the same quarter last year. Sequentially, loss decreased 31.7% from INR 41.9 Cr.
The company booked an exceptional loss of INR 11.8 Cr during the quarter under review due to a fraud carried out by some of its registered merchants and users by exploiting a technical bug in the platform.
Meanwhile, MobiKwik’s revenue from operations also declined 7% to INR 270.2 Cr in Q2 from INR 290.6 Cr in the second quarter of FY25. On a quarterly basis, revenue declined marginally from INR 271.3 Cr.
The company’s shares plunged following the results and were trading 4.48% lower at INR 252.60 on the BSE at 12:00 IST.
(The story will be updated soon)
The post Mobikwik Q2: Loss Skyrockets 7.94X YoY To INR 28.6 Cr appeared first on Inc42 Media.
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