Fino Payments Bank net profit rises to Rs 22.8 crore in Q3

Fino Payments Bank on Wednesday reported a 19 per cent rise in net profit to Rs 22.8 crore in the December quarter. The Navi Mumbai-headquartered entity had reported a net profit of Rs 19.1 crore in the year-ago period.

Its overall revenues grew 18 per cent to Rs 370.2 crore from Rs 314.1 crore in the year-ago period, a statement said. The revenues in the September quarter were Rs 358.6 crore.

The operating profit grew 30 per cent to Rs 50.5 crore during the quarter, largely on the back of operating costs growth being curtailed at 16 per cent.

The bank saw a 36.5 per cent jump in throughput at Rs 2.55 lakh crore during the December quarter, while the number of transactions was up 74 per cent at 149.2 crore.

The Fino Payments Bank scrip gained 1.3 per cent to close at Rs 331.2 apiece on the BSE on Wednesday, as against gains of 0.86 per cent on the benchmark.