Pine Labs Reports First Full-Year Profit Amidst Fintech Expansion
Indian fintech company Pine Labs has achieved its first full-year consolidated profit for FY26, reporting ₹112.5 Cr. The company has expanded its services beyond point-of-sale devices to an AI-powered fintech stack.
Pine Labs, an Indian fintech firm, has reported its first full-year consolidated profit for the fiscal year 2026, earning ₹112.5 crore (approximately $1.35 million USD). This marks a significant turnaround from a loss of ₹145.5 crore in the previous fiscal year.
Operating revenue saw a 19% increase, reaching ₹2,710.6 crore, while adjusted EBITDA surged by 57% to ₹559 crore. This financial improvement follows a period of strategic acquisitions aimed at transforming Pine Labs from a point-of-sale device provider into a comprehensive fintech platform. The company has broadened its offerings to include online checkout solutions, consumer financing, and gift card services.
Despite its growth, Pine Labs faced profitability challenges for years as it invested heavily in expanding its hardware, processing, cloud infrastructure, and international operations. The company pursued a public listing, initially deferring a U.S. IPO before opting for an Indian market debut.
By Q1 FY27, Pine Labs served over 1.15 million merchants across India, Southeast Asia, and the Middle East. However, the competitive landscape is intensifying, with rivals like PhonePe and Paytm expanding aggressively into payments, lending, and other financial services. While Pine Labs has achieved profitability, increased investments and a shifting business mix have led to narrower margins, indicating continued focus required.