Fino Payments Shares Jump 8% During Intraday

Shares of Fino Payments Bank jumped 8.6% to INR 246.75 apiece during intraday trading session on the BSE today (February 20), days after marking its 52-week low earlier this week.

The market capitalisation of the company stood at INR 2,029.18 Cr, as of 11:30 AM.

The stock ended the day’s trading session at INR 239.15 per share on the BSE, a 5.3% rise from its previous close of INR 227.15 apiece yesterday (February 19).

However, the stock hit its 52-week low of INR 215.55 apiece on the BSE on Tuesday (February 18).

In the past 10 trading sessions, shares of Fino Payments lost 22% in value, and closed seven sessions in red.

Meanwhile, the stock shed 26.7% of its value in the last 12 months.

Fino Payments Bank is partnering with lending institutions to deepen its focus on its credit disbursement business, the ET reported. The bank is currently piloting offerings such as home loans, gold loans and other micro-credit products for merchants.

Shares of Fino Payments Bank ended the day 5.21% higher at INR 288 on the BSE, ahead of its Q3 FY25 earnings on January 29.

The startup reported net profit jumped 1.3% to INR 23.11 Cr in the third quarter of fiscal year 2024-25, from INR 22.80 Cr, a year ago.

Meanwhile, the biggest contributor in Fino’s revenue stream was CASA (Current Account Savings Account), which brought in INR 111.6 Cr in the quarter with a margin of 50%. Additionally, revenue from Fino’s digital payment services, its UPI payments stack, grew 4X in the quarter to INR 109.7 Cr.

Founded in 2007, Fino commenced its operations as a payments bank with effect from June 2017. Its shares were listed at INR 577 apiece on BSE on November 12, 2021. 

To note, the stock hit its 52-week high on two consecutive trade sessions in September, last year, days after the company released its annual report for the financial year 2023-24 (FY24).

The company’s all-time high still stands at INR 583.35 per share on the BSE, as of November 12, 2021.