Earnings Review
Fino Payments Bank's Q3 PAT down on fall in other income
This story was originally published at 22:47 IST on 29 January 2026
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--Fino Payments Bk Oct-Dec net profit INR 122.5 mln vs INR 231.1 mln year ago
--Fino Payments Bk Oct-Dec total income INR 3.94 bln vs INR 4.61 bln yr ago
--Fino Payments Bank capital adequacy ratio 73.15% on Dec 31
--Fino Payments Bk Apr-Dec PAT INR 453.5 mln vs INR 685.3 mln year ago
--Fino Payments Bk Apr-Dec total income INR 12.48 bln vs INR 13.54 bln yr ago
--Fino Payments Bk Oct-Dec cost due to labour codes implementation INR 31 mln
By Durgesh Nandan
MUMBAI – Fino Payments Bank Ltd. reported a sharp decline in its net profit for the December quarter due to a fall in other income. The net profit fell despite a fall in total expenses. The payments bank reported a net profit of INR 122.5 million, down 47% on year and 20% on quarter. Its other income fell more than 19% on year to INR 3.31 billion.
The payments bank's total income fell over 14% on year and nearly 2% sequentially to INR 3.94 billion. The fall in total income is primarily attributed to decline in revenue from the traditional transaction business.
Fino Payments Bank is the first payments bank to get approval from the Reserve Bank of India to transition into a small finance bank, which is likely to happen in the March quarter. A day before the earnings were announced, the bank approved the reappointment of Rishi Gupta as managing director.
The rise in exceptional item for the quarter amounted to INR 31 million. The exceptional amount was added as one-time cost due to the impact of new labour codes.
The bank's current account savings account rose 25% on year to INR 16.8 million. Its average deposits rose 32% on year to INR 25 billion. Fino Payments Bank's capital adequacy ratio as on Dec. 31 was 73.15%, down from 65.78% in the year-ago quarter. The earnings before interest, taxes, depreciation and amortisation rose 6% year on year to INR 639 million and the payments bank posted its highest-ever EBITDA margin of 16.2%, up 300 basis points on year.
Total throughput, or volume of transactions, in Apr-Dec increased 8% on year to INR 3.56 trillion. Digital throughput rose 31% on year to INR 1.96 trillion, the bank said in its investor presentation.
The net profit for Apr-Dec fell nearly 34% on year to INR 453 million. Total income for the nine-month period declined nearly 8% to INR 12.48 billion from INR 13.54 billion a year ago.
The earnings were announced after market hours on Thursday. Shares of Fino Payments Bank closed 2.1% lower at INR 221.7 on the National Stock Exchange. End
Edited by Ashish Shirke
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