• Profitability drivers: MobiKwik maintained EBITDA and PAT profitability as contribution profit rose from ₹60 crore to ₹112 crore year-on-year, supported by lending margins improving to nearly 59%.
• Payments margin resilience: Market share gains in UPI were driven organically through wallet-over-UPI and product enhancements, with an overall payment margin of about 16 basis points enabling continued reinvestment without net losses.
• Merchant business expansion: After investing at least ₹50 crore in offline infrastructure and Zaakpay last fiscal year, the company targets 10x growth over the next two years, choosing to delay the segment's break-even timeline to fund aggressive expansion from core operating profits.
• Lending portfolio strategy: The company has tightened risk management by shifting toward super-prime borrowers earning over ₹3 lakh, expanding its risk-free, distribution-only lending segment to 25% of the business from zero percent a year ago.