Fino Payments Bank Reappoints Prayag Gadgil as Head of Internal Audit for 2 Years
Fino Payments Bank Limited's Board approved unaudited financial results for Q3 FY26, reporting a net profit of ₹1,225 lakhs. The Board also re-appointed Mr. Prayag Shashikant Gadgil as Head of Internal Audit for two years, effective February 02, 2026. Mr. Gadgil brings over 25 years of audit experience.
The re-appointment of the Head of Internal Audit is a significant management decision that ensures continuity in a key function. The financial results, while showing a decrease in profit, provide essential information for investors and stakeholders.
The announcement includes the re-appointment of a key personnel, which is a routine management decision, and the financial results which show a decrease in profit compared to the previous year. The overall sentiment is neutral.
Fino Payments Bank Limited announced the outcome of its Board Meeting held on January 29, 2026. The Board approved the Un-audited Financial Results for the quarter and nine months ended December 31, 2025, along with the Limited Review Report from the Statutory Auditors.
Additionally, the Board approved the re-appointment of Mr. Prayag Shashikant Gadgil as Head of Internal Audit (Senior Management Personnel) for a period of two years. This re-appointment is effective from February 02, 2026, to February 01, 2028, following the recommendations of the Nomination & Remuneration Committee and the Audit Committee.
The financial results indicate a Net Profit of ₹1,225 lakhs for the quarter ended December 31, 2025, compared to ₹2,311 lakhs for the same period in the previous year. For the nine months ended December 31, 2025, the Net Profit was ₹4,535 lakhs, down from ₹6,853 lakhs in the prior year.
Mr. Prayag Gadgil is a seasoned Audit and Governance professional with over 25 years of experience. He is a qualified Chartered Accountant, Company Secretary, Cost and Management Accountant, Certified Internal Auditor, and Information System Auditor. He has experience in financial services and has been associated with Fino Payments Bank for the last three years.
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Fino Payments Bank Limited filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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