Fino Payments Bank Shares Jump 5% After Q3 Results

Fino Payments Bank Shares Jump 5% After Q3 Results

SUMMARY

Shares of Fino Payments Bank jumped over 5% to INR 303 apiece on the BSE in early trade after the company reported robust growth in its business in Q3 FY25

The bank’s total income jumped 24.6% to INR 461.34 Cr in the reported quarter from INR 370.20 Cr in the December quarter last year

Net profit rose 9% on a quarter-on-quarter basis from INR 21.15 Cr

Shares of Fino Payments Bank jumped over 5% to INR 303 apiece on the BSE in early trade today (January 30) after the company reported robust growth in its business in the third quarter of the fiscal year 2024-25 (Q3 FY25).

However, the stock gave up all of the gains later and was quoting INR 287.95 on the BSE at 1:04 PM, down 0.03% from the previous close.

Shares of Fino Bank have shed 3% over the last five trading sessions and almost 9% in the past month.

The intraday upward swing in the stock came a day after Fino disclosed its December quarter earnings. The bank’s total income jumped 24.6% to INR 461.34 Cr in the reported quarter from INR 370.20 Cr in the December quarter last year. On a quarter-on-quarter basis, total income shot up 13.2% from INR 407.66 Cr.

The biggest contributor to Fino Bank’s revenue during the quarter under review was CASA (Current Account Savings Account), which brought in INR 111.6 Cr with a margin of 50%. Meanwhile, the bank’s digital payment services arm, its UPI payments stack, surged 4X to INR 109.7 Cr in Q3 FY25.

EBITDA soared 19% year-on-year to INR 60.2 Cr in the quarter ended December 31, 2024.

Fino’s net profit was almost flat at INR 23.11 Cr in Q3 FY25, compared to INR 22.80 Cr in the year-ago quarter, primarily due to a tax outgo of INR 5.34 Cr.

However, profit rose 9% on a sequential basis from INR 21.15 Cr in the September quarter.

The rise in expenses, however, outpaced the growth in revenue with total expenditure surging 25% YoY to INR 432.89 Cr in Q3 FY25.

Founded in 2017, Fino Payments Bank operates on an asset-light business model that principally relies on fee and commission-based income generated from merchant networks and strategic commercial partnerships.

It also referral loans through partnerships that validate the creditworthiness of customers. The bank has also applied for a small finance bank licence with the Reserve Bank of India.

Earlier this month, reports surfaced that some employees of Fino allegedly floated fictitious schemes to defraud customers and merchants to the tune of INR 35.5 Cr.

 

You have reached your limit of free stories
Become A Startup Insider With Inc42 Plus

Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in india's startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Fino Payments Bank Shares Jump 5% After Q3 Results-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Fino Payments Bank Shares Jump 5% After Q3 Results-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Fino Payments Bank Shares Jump 5% After Q3 Results-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Fino Payments Bank Shares Jump 5% After Q3 Results-Inc42 Media
Fino Payments Bank Shares Jump 5% After Q3 Results-Inc42 Media
You’re in Good company