Fino Payments Bank Announced Q1FY23 Result :

• Strong Growth Trajectory: Throughput value excluding digital, crosses Rs 50,000 cr for the first time in a quarter
• Revenue up by 40% YoY to Rs 289 cr
• For the first time in the history of Fino, revenue in a first quarter has also grown sequentially over the last quarter of the previous financial year
• Transaction revenue excluding BC banking was up by 22% YoY
• Subscription and on-boarding revenue continued to register strong momentum with a 68% YoY growth despite moderation in on-boarding fees
• EBITDA and PAT grew by 111% YoY and by 223% YoY to Rs 24 cr and Rs 10 cr, respectively
• EBITDA margins widened to 8.2% in Q1FY23 from 5.4% in Q1FY22 while PAT margins widened to 3.5% in Q1FY23 from 1.5% in Q1FY22
• If PAT is adjusted for the digital spends (these spends are more of an investment for the future), it would’ve been higher by 30% in Q1FY23

Rishi Gupta, CEO & Managing Director: “The quarter ended marked the tenth straight quarter profit. And with it half of our five year existence as a payments bank has been profitable. A remarkable achievement given the concerns, reiterating the robustness of our asset light, scalable, growth oriented business model. Our customer centric innovations, partnerships and ability to identify opportunities have been critical in our growth story. We will continue the momentum with emphasis on customer acquisition strategy and I am confident of our next growth phase driven by high growth products and digital initiatives.”

Ketan Merchant, Chief Financial Officer:   “At Fino, our focus has always been on strong bottom line growth. We have been able to double our PAT despite some strong headwinds on inflation. Our endeavour is to leverage the 1.14 million strong network and dovetail our digital strategy to enhance cross sell opportunities in the long run for stakeholder value creation.”  

Result PDF