Airtel Payments Bank annualised revenue crosses Rs 3,300 crore in Q1 FY27

Revenue for Q1 FY27 increased from Rs 777.4 crore in the corresponding quarter of the previous financial year, translating into a growth of about 6.8 per cent year-on-year.

The bank's net profit for the quarter stood at Rs 19 crore, registering an 82 per cent increase from the year-ago period. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 31 per cent year-on-year to Rs 107.5 crore.

Customer balances increased 17 per cent year-on-year to Rs 4,389 crore. The number of monthly transacting users of savings bank accounts rose 23 per cent to 29.5 million, while the bank's annualised Gross Merchandise Value (GMV) stood at Rs 4,523 billion.

Commenting on the quarterly performance, Anubrata Biswas, MD and CEO of Airtel Payments Bank, said, "Our strong start to FY27 reflects the trust customers place in us and the growing adoption of digital banking across India."

"We remain focused on delivering safe, simple, and accessible banking solutions at scale," he added.

During the quarter, the bank continued to see growth in its digital payments and transit businesses. It said customers were increasingly using its Safe Second Account for everyday digital transactions and recurring payments, while the bank remained the second-largest player in UPI AutoPay mandates.

Airtel Payments Bank has issued more than 6.5 million National Common Mobility Cards (NCMC), making it the second-largest issuer in the segment, according to the release. The bank also said it processes two out of every three transit payments across networks supported by it.

In rural India, the bank has more than five lakh active banking points and said it serves three in four villages. It also processes one in four Aadhaar Enabled Payment System (AePS) transactions.

The bank also continued to expand its business-to-business digital payments operations through current accounts, soundboxes and payment solutions for merchants. (ANI)