MobiKwik Shares Rally 9% as BSE Activates Broking Operations; Q3 Profit and GMV Growth Support Sentiment

Mumbai | February 24, 2026

Shares of One MobiKwik Systems climbed as much as 9% on Tuesday after BSE activated its wholly owned subsidiary, MobiKwik Securities Broking Private Limited, to commence stockbroking operations.

The stock rose to ₹222.42 in early trade after opening at ₹213.90, compared with the previous close of ₹201.76.

BSE activated the subsidiary on its platform effective February 24, 2026. The approval follows the stockbroking licence granted by the Securities and Exchange Board of India (SEBI) in July 2025.

With this clearance, the company can undertake equity broking on BSE, including buying, selling, dealing, clearing and settlement of trades. The approval marks MobiKwik’s formal entry into exchange-based retail broking

Broking Adds New Revenue Vertical

MobiKwik began as a digital wallet platform and later expanded into lending and financial services. The addition of trading services reflects its transition toward a broader full-stack financial services platform.

The company had 186.6 million registered users and 4.79 million merchants as of December 2025. Integrating broking services into this ecosystem provides access to an existing retail base at a time when participation in equity markets remains elevated.

The move is aimed at diversifying revenue beyond payments and credit.

December Quarter Turns Positive

The regulatory development comes alongside improving financial performance.

For the quarter ended December 2025, MobiKwik reported:

-Net profit of ₹4 crore against a loss of ₹55.2 crore a year earlier.
-Revenue rose 7.4% year-on-year to ₹289 crore.
-EBITDA stood at ₹6.8 crore compared to a loss in the corresponding quarter last year.
-EBITDA margin improved to 2.4%.

The turnaround was supported by sustained cost optimisation, lower payment processing charges and improved margins in lending operations.

Operational Metrics Strengthen

Beyond profitability, operational performance also strengthened.

Payments Gross Merchandise Value (GMV) hit an all-time high of ₹48,100 crore during the quarter.

UPI transactions surged 3.2 times year-on-year, reflecting higher platform activity.The financial services segment also gained traction. ZIP EMI GMV jumped 126% YoY to ₹900 crore, indicating stronger momentum in digital credit.

These metrics indicate growing engagement across both payments and digital credit verticals.

Stock Trades Below IPO and Listing Price

Despite the recent rally, the stock continues to trade below its historical benchmarks.

It remains below its IPO price of ₹279 and more than 55% lower than its December 2024 listing price of ₹440.

The stock has gained nearly 13% over the past month but remains down over 30% in the past year. The 52-week high stands at ₹354.40, while the 52-week low is ₹190.62.

The company’s current market capitalisation is approximately ₹1,811 crore.

Bottomline

The activation of its broking subsidiary adds a fresh revenue stream and strengthens MobiKwik’s positioning as a diversified fintech platform. With profitability returning and transaction volumes expanding, investors will watch how effectively the company scales its trading operations and sustains earnings momentum in the coming quarters.

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