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…
Fino Payments Bank incurred a net loss of ₹14 crore in the first quarter of FY27, marking a stark contrast to a profit of ₹17.8 crore in the same period last year. The bank's total income decreased by 32.3% to ₹306.9 crore in Q1 FY27 from ₹453.5 crore in the corresponding quarter of the previous year. This decline was largely attributed to a 40.2% YoY drop in other income, which includes fees and commissions from various transactions and services.
Despite this, interest income saw an 18.4% rise to ₹72.2 crore, up from ₹61 crore in Q1 FY26. The bank's total expenditure, excluding provisions and contingencies, fell by 25.2% to ₹320.6 crore from ₹428.8 crore in the same period last year.
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