Fino Payments Bank posts ₹13.72cr Q1 loss despite expense cuts
Business
Fino Payments Bank just reported a net loss of ₹13.72 crore for the first quarter of fiscal 2027, flipping from profits in both the last quarter and the same period last year.
The main reason? Other income dropped sharply, which even a big cut in operating expenses couldn't balance out.
Other income falls 40% to ₹235cr
Net interest income actually went up 13% year over year to ₹37 crore, but other income fell by 40%, landing at ₹235 crore.
This was mostly because earnings from services like micro-ATM fees and debit cards took a hit.
On the bright side, operating expenses dropped by nearly one-third.