Fino Payments Bank Q4 Profit Surges to Rs 25.21 Crore

Fino Payments Bank reports 14% growth in quarterly net profit to Rs 25.21 crore. Annual net profit rises to Rs 86.22 crore. Revenue increases by 24% to Rs 401 crore due to increased throughput. Bank reaches 1 crore customer milestone. Operating profit up 26% to Rs 54.2 crore.

Fino Payments Bank on Tuesday reported a 14 per cent growth in March quarter net profit to Rs 25.21 crore.

The Navi Mumbai-headquartered bank had reported a net profit of Rs 22.08 crore in the year-ago period.

Net profit for the 2023-24 financial year rose to Rs 86.22 crore from the year-ago period's Rs 65.08 crore, as per an exchange filing.

Its Chief Executive and Managing Director Rishi Gupta said this is the highest profitable quarter and it has also reached the milestone of having 1 crore customers, which gives him greater confidence about the future growth.

The overall revenue increased 24 per cent to Rs 401 crore during the reporting quarter on the back of a 52 per cent rise in throughput.

The operating profit came at Rs 54.2 crore for the January-March period, 26 per cent higher than the year-ago period.

The Fino scrip closed 1.03 per cent down at Rs 291.90 apiece on the BSE on Tuesday as against a 0.25 per cent correction on the benchmark.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)