Fino Payments Bank Q3 Results: Firm posts net profit of Rs 23 crore

Kolkata: Fino Payments Bank, which longs for an upgrade to small finance bank, has booked a net profit of Rs 23 crore for the December 2023 quarter against Rs 19 crore in the year-ago period.

Its revenue for the quarter was 18% higher at Rs 370 crore while EBITDA expanded by 30% to Rs 50.5 crore.

Overall throughput value grew by 42% year-on-year to Rs 93,323 crore while digital throughput within it grew 184% to Rs 38,187 crore.

The firm added 7.8 lakh new customers during the quarter.

“Our efforts resulted in significant customer base expansion, crossing the 1 crore CASA customer mark,” said managing director Rishi Gupta.

Fino has applied for a small finance bank licence in December.”We are at present engaging ourselves on how to build a liability franchise within the remit of our current business,” said Gupta. “Once we get feedback from the regulator on our application, we will start working on building the technology and manpower,” he added.

(You can now subscribe to our ETMarkets WhatsApp channel)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice, Budget 2024 News on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price