Q4FY22 Quarterly Result Announced for Fino Payments Bank Ltd.
Fino Payments Bank declares Q4FY22 result: Fino Payments Bank crosses a major revenue milestone – FY22 revenue at Rs 1,009 crore with PAT more than double at Rs 42.74 crore – digital contributes to nearly 10% of the overall throughput Overall transaction throughput grew by 41% YoY to Rs 1,87,311 crores Margins are range bound at 32.5% UPI throughput rose substantially by 325% YoY to Rs 18,393 crores resulting in throughput share of 10% Transactions on the platform grew by 55% YoY to cross 67 crores Revenue during the year grew by 28% YoY to Rs 1,009 crores Merchant network as of 31 March 2022 stood at 10.2 lakh points. More than 3.78 lakh banking points added in FY22, i.e. around 1037 points opened daily. The Bank opened 79% more current and savings accounts (CASA) at 20.2 lakhs in FY22 as compared to 11.3 lakhs in FY21. EBITDA margins improved from 6.6% in FY21 to 8.4% in FY22. However, margins in Q4FY22 is 10.3% Profit After Tax (PAT) grew by 109% YoY to Rs 42.74 crores FY22 PAT margins is at 4.2% while the same for Q4FY22 is at 6.2% Annualized Return on Equity (RoE) in Q4FY22 is at 15% CASA subscription and renewal revenue grew by 106% YoY to Rs 91.2 crores while revenue from renewal accounts jumped nearly 4x YoY to Rs 27.5 crores CMS overall throughput grew by 102% YoY to Rs 23,885 crores while average ticket size per transaction improved by 40% YoY from Rs 27,766 per transaction in FY21 to Rs 38,971 per transaction in FY22 CASA and CMS FY22 revenue together contribute 17.3% of overall revenue for FY22 Rishi Gupta, CEO & Managing Director said, “We achieved full year of profit for the second straight fiscal reiterating the robustness and sustainability of our business model. We will continue our strategic focus on network expansion, customer centricity and innovative partnerships, which has given us good dividends. At the same time, we have a clear vision of the long term future. Fino 2.0 journey will be digitally driven and its execution is picking up pace. We are complementing our core business with digital array and building a dedicated vertical to create best in class digital platforms for enhanced customer experience and revenue contribution.” Ketan Merchant, Chief Financial Officer said, “Our philosophy of penetrating financial services in every nook and corner of Bharat resulted in our throughput growing by 41% to INR 1.87 lakh crore. Our lean model and operating leverage resulted in our profit growing by 109%, which led to annualised ROE of 15% in Q4FY22. In FY22 we encountered multiple headwinds from the pandemic to competitive intensity. Our endurance, focus and commitment facilitated growth and profitability, testified by Q4FY22 and FY22 numbers." Result PDF17-05-2022