Pine Labs Q2 FY27 Results: Net Profit Up Sixfold to Rs 38.6 Cr
Pine Labs reported a more than sixfold increase in consolidated net profit to Rs 38.6 crore in the quarter ended September 2026 (Q2 FY27), against Rs 6 crore a year earlier. Profit nearly doubled from Rs 19.6 crore in the April-June quarter.
Revenue from operations rose 24% year on year to Rs 806.2 crore from Rs 650 crore, and 9% from Rs 737 crore in the previous quarter. The company attributed the growth to a wider merchant base, newer products and international expansion. Including other income of Rs 25.6 crore, total revenue was Rs 831.7 crore, while adjusted EBITDA rose 27% to Rs 155 crore and total expenses rose 16% to Rs 770.4 crore.
The Digital Infrastructure and Transaction Platform segment grew 21% to Rs 531.6 crore, about 66% of operating revenue. The Issuing and Acquiring Platform grew 31% to Rs 274.6 crore.
The company said revenue from its India business grew more than 40% year on year. Revenue from Southeast Asia rose 40%, and it has expanded multi-issuer affordability across leading electronics brands in Malaysia, with 13 issuers onboarded.
Pine Labs is a fintech company. Its products include point-of-sale terminals, smart billing, loyalty programme management and affordability offerings.
It also issues and processes prepaid cards for gifting, rewards and employee benefits, and works with financial institutions on card issuance and merchant acquiring. It earns from subscriptions and transaction fees, paid mainly by merchants, acquirers, credit partners and consumer brands.
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In the quarter it processed 229 crore transactions, with platform gross transaction value of Rs 4.45 lakh crore ($46.5 billion). Digital checkout points rose to 22.3 lakh and the merchant base to 11.6 lakh.
Employee cost fell from 37% to 30% of revenue year on year, even as the company kept investing in talent in mid-market, international business development and product teams.
Pine Labs also pointed to UPI. More than 70% of its digital checkout point transactions are UPI-led, and it processes Rs 20,000 crore in monthly UPI gross transaction value. Under NPCI's proposed framework, a 0.4% merchant discount rate cap applies to payments above Rs 2,000, and over 65% of the company's UPI value comes from transactions above that threshold.
The rollout has been deferred pending regulatory clarity. The company said it is ready to execute once the final framework and implementation date are announced.
"Rollout has been deferred pending regulatory clarity, but our distribution, technology, and operations are ready to execute immediately once the final framework and implementation date are announced," Pine Labs said.
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