Pine Labs reports sixfold profit growth in second quarter
Fintech firm Pine Labs posted a net profit of Rs 38.6 crore for the second quarter of fiscal year 2027, up from Rs 6 crore in the same period last year.
Pine Labs reported a consolidated net profit of Rs 38.6 crore for the quarter ended September 2026, marking a significant increase from the Rs 6 crore recorded during the same period in 2025. Revenue from operations rose 24% to Rs 806.2 crore, driven by expansion in its merchant base, the introduction of new products, and international market growth.
The company segments its revenue into two primary areas: Digital Infrastructure and Transaction Platforms, and Issuing and Acquiring Platforms. The digital infrastructure segment contributed approximately 66% of total operating revenue, growing 21% year-on-year to Rs 531.6 crore. The issuing and acquiring segment grew 31% to Rs 274.6 crore, supported by prepaid card distribution and payment processing services for enterprises.
Total expenses for the quarter reached Rs 770.4 crore, a 16% increase. While total spending grew, the firm noted a reduction in employee costs as a percentage of revenue, moving from 37% to 30%. Strategic investments were focused on AI-based agentic commerce, information security, and cloud infrastructure. The company plans to continue scaling its UPI-based payment volumes, targeting Rs 33-34k crore in monthly gross transaction value by fiscal year 2028.