Fino Payments Bank Slips Into Red, Reports ₹14 Cr Loss In Q1

Fino Payments Bank slipped into the red in the Q1 FY27, posting a net loss of ₹13.7 Cr against a profit of ₹17.8 Cr in the year-ago quarter. Sequentially, the bank reported a profit of ₹7.1 Cr in the March quarter.

Fino Payments Bank’s total income declined 32.3% to ₹306.9 Cr in Q1 FY27 from ₹453.5 Cr in the corresponding quarter last year. On a QoQ basis, income fell 9.7% from ₹340 Cr.

The decline was primarily driven by a fall in other income, which includes fees and commissions from CASA, micro-ATM and AePS transactions, domestic remittances, debit cards, third-party products, business correspondent banking, digital payments, and cash management services.

Other income declined 40.2% YoY to ₹234.6 Cr during the quarter. However, interest income increased 18.4% to ₹72.2 Cr from ₹61 Cr in Q1 FY26.

The payments bank’s total expenditure, excluding provisions and contingencies, fell 25.2% to ₹320.6 Cr from ₹428.8 Cr in the year-ago period.

(The story will be updated shortly)

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