**1. Financial Highlights:** Revenue grew 4% YoY to ₹453.5 Cr.

Profit Before Tax (PBT) rose 1% to ₹24.6 Cr, and EBITDA increased 16%. Net Revenue Margin expanded 250 bps YoY.

Average deposits surged 34% to ₹2,275 Cr, maintaining a low 2.1% cost of funds, signaling improved profitability. **2. Strategic Initiatives & Growth Drivers:** The company is strategically pivoting towards high-margin "Growing Businesses" (CASA & Digital Payments), which now comprise 57% of revenue and are growing 40% YoY.

Ongoing tech investments, including a new Core Banking Solution, are underway.

RBI's Small Finance Banking license evaluation is progressing. **3. Business Developments:** Customer base expanded to 1.5 Crore, with over 53 lakh digitally active.

Daily UPI transactions surged 54% YoY to ~1 Cr, significantly boosting digital throughput.

Conversely, traditional business revenue (remittance, MATM, AEPS) notably declined 43% YoY due to regulatory shifts. **4. Market Position & Competitive Advantage:** Maintains an extensive network of 19.5 lakh banking outlets covering 97% of India.

Ranks 6th in active mobile banking users.

Its competitive 2.1% cost of funds from its deposit-led franchise and robust "FinoPay" UPI platform drive market strength. **5. Investor Implications:** The strategic shift to higher-margin segments and robust digital growth indicate positive growth potential.

Sustained customer loyalty and improving acquisition quality enhance long-term value.

Key risks to monitor include execution in managing the decline of traditional businesses and rising compliance costs.