India’s fintech infrastructure is poised for significant growth, especially in the B2B segment, driven by a rapidly digitizing economy, supportive government policies, and a thriving startup ecosystem. Adopting digital payment platforms, robust API(Application Programming Interface) integrations and scalable cloud-based solutions are reshaping how businesses operate. Unified Payments Interface (UPI) and Account Aggregator (AA) frameworks foster seamless data sharing and efficient financial services, enabling faster decision-making for enterprises.
With small and medium enterprises (SMEs) increasingly adopting digital tools, the demand for lending platforms, expense management systems, and embedded finance solutions is set to soar. The future lies in enhancing financial inclusion, leveraging AI and blockchain technologies, and creating tailored solutions that address India’s unique market needs while driving efficiency.
Share Price
Currently, the shares of RNFI have fallen by 4.53% from their previous close of Rs. 143.5 and are trading at Rs 137.
Q2 Results
In Q2, the company reported a 13% YoY drop in revenue, declining from ₹526 crore to ₹458 crore. Despite the revenue dip, net profit surged by an impressive 58% YoY, increasing from ₹5.52 crore to ₹8.76 crore, showcasing strong cost management and operational efficiency. The EBITDA margin significantly improved, rising from 1% to 4% YoY, reflecting enhanced profitability. These results highlight the company’s focus on optimizing margins and driving profit growth amid challenging revenue conditions.
About the Company
RNFI Services Limited, established in 2015, is a fintech company that has developed a comprehensive suite of financial and digital services for both businesses and consumers across India. The company operates through online portals and mobile applications, offering a diverse range of solutions that bridge traditional banking with modern digital convenience.
Their service portfolio includes essential banking functions through Aadhaar banking services, domestic money transfer capabilities, and innovative Mini ATM solutions for merchants. The company has also expanded into digital payments to facilitate secure business transactions and utility payment services for basic recurring needs.
RNFI has established itself in the government services sector by providing PAN card application services in partnership with Protean E Gov services and offering ITR filing assistance. Their travel services division acts as a principal-agent for IRCTC, providing air travel bookings at competitive rates.
The company’s business model encompasses both B2B and B2B2C approaches, making financial services more accessible while empowering businesses and serving the everyday needs of Indian citizens.
Conclusion
Despite facing a 13% YoY revenue decline in Q2, RNFI Services Limited has demonstrated remarkable resilience and operational efficiency with a 58% surge in net profit. The improvement in EBITDA margin from 1% to 4% reflects the company’s successful cost management strategies.
As India’s fintech infrastructure continues to evolve with UPI, Account Aggregator frameworks, and increasing SME digitization, RNFI is well-positioned to capitalize on these opportunities through its diverse service portfolio spanning banking, digital payments, and government services. The company’s future growth prospects remain tied to the broader digital transformation of India’s financial landscape.
Written By: Dipangshu Kundu
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