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Fino Payments Bank's Net Profit Declines in Fiscal Q4; Shares Plummet 7%

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-- Fino Payments Bank (NSE:FINOPB, BOM:543386) net profit dropped to 71.0 million Indian rupees in the fiscal fourth quarter, from 240.0 million rupees a year ago, according to a Wednesday filing to the Indian stock exchanges by the digital banking company.

The company's shares fell nearly 7% in Thursday's trade.

Earnings per share during the quarter ended March 31 contracted to 0.85 rupees compared with the year-ago figure of 2.88 rupees.

Interest earned by the lender in fiscal Q4, however, increased to 641.0 million rupees from 527.8 million rupees a year earlier.

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