Pine Labs revenue up 20% in Q1 FY27, subscription fees from digital checkout points at 29%
Indian payments platform Pine Labs reported a 20% year-on-year revenue increase in its first fiscal quarter, reaching Rs 737 crore. Subscription fees from digital checkout points now constitute 29% of its total revenue.
Merchant payments and lending platform Pine Labs announced a 20% year-on-year increase in revenue for the first quarter of fiscal year 2027, reaching Rs 737 crore. The company attributed this growth significantly to subscription revenue from its Digital Checkout Points, which now account for 29% of total revenue for the quarter ending June 30.
Consolidated net profit for the quarter rose to Rs 19.6 crore, a fourfold increase from Rs 4.8 crore in the same period last year. However, net profit saw a 67% decline on a quarter-on-quarter basis, falling from Rs 59.4 crore.
The Digital Infrastructure and Transaction Platform segment, which includes its point-of-sale services, saw revenue grow by 15% to Rs 499.1 crore. Gross Transaction Value (GTV) on this platform increased by 52% year-on-year to Rs 4.04 lakh crore. The company expanded its digital checkout points to 21.7 lakh.
Pine Labs operates across more than 22 countries, with international revenue growing 21% year-on-year to Rs 114 crore, representing approximately 16% of its total revenue. During the quarter, the company expanded its services in Malaysia, Singapore, Romania, and the Philippines.