India, Aug. 13 -- Fino Payments Bank slipped into the red in the Q1 FY27, posting a net loss of Rs.13.7 Cr against a profit of Rs.17.8 Cr in the year-ago quarter. Sequentially, the bank reported a profit of Rs.7.1 Cr in the March quarter.

Fino Payments Bank's total income declined 32.3% to Rs.306.9 Cr in Q1 FY27 from Rs.453.5 Cr in the corresponding quarter last year. On a QoQ basis, income fell 9.7% from Rs.340 Cr.

The decline was primarily driven by a fall in other income, which includes fees and commissions from CASA, micro-ATM and AePS transactions, domestic remittances, debit cards, third-party products, business correspondent banking, digital payments, and cash management services.

Other income declined 40.2% YoY to Rs.234.6 Cr d...