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Fino Payments Bank reported a 35.5 per cent year-on-year (y-o-y) increase in third quarter net profit at ₹19.1 crore against ₹14.1 crore in the year ago quarter.
Revenue was up 14.2 per cent at ₹314.1 crore (₹275.2 crore in the year ago period).
Product cost increased by 12.9 per cent yoy to ₹213.3 (₹188.9 crore). Operating cost nudged up 2.5 per cent yoy to ₹61.9 crore (₹60.4 crore).
Total deposits grew 66 per cent yoy from ₹589 crore on December 31, 2021 to ₹976 crore on December 31, 2022. CASA deposit balance per account grew 15 per cent from ₹971 crore in Q3FY22 to ₹1,117 crore in Q3FY23.
Rishi Gupta, CEO & Managing Director, said, “Going forward, we will strengthen our franchise, build on our digital and technology offerings with emphasis on partnerships for expansion and profit generation.”
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