Pine Labs reports sixfold profit growth in second quarter
Indian fintech company Pine Labs saw its net profit surge to ₹38.6 crore as quarterly revenue grew by 24 percent year-on-year.
Pine Labs has reported a significant increase in financial performance for the second quarter of the fiscal year, with net profit rising to ₹38.6 crore from ₹6 crore in the same period last year. Operating revenue reached ₹806.2 crore, reflecting a 24 percent growth rate as the firm scales its digital infrastructure and transaction platforms.
The company’s primary business verticals, which handle digital infrastructure and payment processing, both recorded double-digit growth. International operations now account for 15 percent of total revenue, with substantial gains reported in Southeast Asia and continued expansion efforts in the UAE and Philippines.
CEO Amrish Rau stated that the company remains focused on maintaining strong EBITDA margins while continuing to invest in new products and regional growth. Pine Labs also anticipates future revenue growth from the proposed UPI merchant discount rate framework, citing its strong presence in the enterprise and premium retail sectors where larger transaction sizes are prevalent.