Fino Payments Bank Q2 FY27 Results: Standalone Net Loss ₹20.90 Crore on Total Income of ₹334 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Other income is most of the total and fell year on year. Total income of ₹333.62 crore was down 16.6% from ₹400.05 crore a year earlier and up 8.7% on the June quarter's ₹306.87 crore. Other income of ₹259.16 crore fell 23.8% year on year, while revenue from operations of ₹74.46 crore rose 23.9%. Other income was 77.7% of total income. The statement's note 10 says other income relates to fees and commission from CASA, micro-ATM, AePS, domestic remittances, debit cards, third-party products, Business Correspondent banking, digital payment and cash management services.

The quarter moved from profit to loss. A net profit of ₹15.35 crore a year earlier became a net loss of ₹20.90 crore, and the loss was wider than the June quarter's ₹13.72 crore. Profit before tax is shown as a loss of ₹20.90 crore, and no tax expense is booked for the quarter, against ₹5.87 crore a year earlier.

The quarter figures are balancing figures. Note 2 says the figures for the quarter ended 30 Sep 2026 and 30 Sep 2025 are balancing figures between audited half-year figures and the published year-to-date figures for the three months to 30 Jun 2026, which were subject to limited review. The auditor, Bilimoria Mehta & Co, says its report is not modified for this matter. The half-year net loss is ₹34.62 crore.

The capital adequacy ratio was 79.89% at 30 Sep 2026, against 83.95% at 31 Mar 2026. Net worth was ₹571.36 crore at 30 Sep 2026. Deposits stood at ₹2,299.40 crore and borrowings at ₹2,224.64 crore, and the bank's total borrowings were 37.75% of total assets.

Inference

The filing says the Reserve Bank of India gave in-principle approval on 5 Dec 2025 for the bank's transition into a Small Finance Bank, and that the bank has appointed an external consultant for the transition. Note 14 says the bank remains committed to this priority.

Ketan Merchant is interim CEO, with his tenure extended by RBI approval for a further three months from 27 Aug 2026 or until a regular MD and CEO takes charge, whichever is earlier. Anup Agarwal is interim CFO, with his tenure extended for up to three months from 6 Oct 2026. Rishi Gupta ceased to be MD and CEO at the end of 21 May 2026 after voluntary early retirement.

Not stated: the name and timing of a regular MD and CEO, the timeline and financial effect of the transition to a Small Finance Bank, and whether the DGGI investigation has concluded. The reason for the quarter's loss against a year-earlier profit is also not given.

Reference: Original filing (PDF)