Fino Payments Bank Limited has informed the Exchange about Transcript
FINOPB · price
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Fino Payments Bank shared its Q1 FY'26 results in this earnings call. Revenue grew 4% year-on-year to ₹453 crores, with EBITDA up 16% to ₹62 crores and cash profit up 20% to ₹50.5 crores. Profit after tax stood at ₹18 crores, lower year-on-year due to the bank becoming a full taxpayer. Net revenue margin expanded by 250 basis points, helped by a shift toward higher-margin CASA and digital payments, which now make up 57% of revenue. The bank added about 7 lakh new accounts, taking total CASA accounts to nearly 1.5 crore, while average deposits rose 34% to ₹2,275 crores. The remittance business declined sharply due to November 2024 RBI guidelines, and account additions were impacted by rising mule account fraud. Management also discussed its application for a Small Finance Bank license and expects to start lending within one year of receiving in-principle approval.
The 250 bps margin expansion and 20% cash profit growth are positives, but muted CASA additions, regulatory headwinds on remittances, and management's decision to withhold forward guidance may temper near-term excitement. Stock price could see limited reaction since management offered no clear outlook and key questions on growth visibility, SFB timeline, and the reverse merger were left unanswered.