Pine Labs reports 67 pc sequential fall in Q1 net profit
New Delhi, July 28
Fintech company Pine Labs on Tuesday reported a 67 per cent quarter-on-quarter decline in its consolidated net profit to Rs 19.57 crore for the first quarter of FY27, even as revenue from operations registered sequential growth.
The company had reported a consolidated net profit of Rs 59.36 crore in the January-March quarter of FY26.
However, on a year-on-year basis, the company's net profit rose more than fourfold from Rs 4.79 crore in the corresponding quarter of the previous fiscal, supported by strong growth in income.
Revenue from operations rose to Rs 736.92 crore during the April-June quarter from Rs 700.51 crore in the preceding quarter. On a year-on-year basis, revenue increased from Rs 615.91 crore.
Total income stood at Rs 765.87 crore during the quarter under review, compared with Rs 741.44 crore in the previous quarter and Rs 653.08 crore in the corresponding quarter last year.
Total expenses increased to Rs 728.14 crore during the quarter from Rs 681.92 crore in the preceding quarter and Rs 657.86 crore a year earlier.
Profit before tax (PBT) came in at Rs 31.73 crore for the April-June quarter, down from Rs 68.41 crore in the previous quarter but higher than Rs 4.84 crore reported in the year-ago period.
The company reported a tax expense of Rs 12.16 crore during the quarter, resulting in a consolidated net profit of Rs 19.57 crore.
Shares of Pine Labs settled 1.18 per cent higher at Rs 153 apiece on the BSE on Tuesday.
Despite Tuesday's gains, the stock has remained under pressure across most time frames since its listing in November 2025, underperforming the benchmark Sensex.
The stock has plunged 25.58 per cent over the past three months, 33.61 per cent over the past six months and 34.95 per cent so far this year, compared with declines of 0.16 per cent, 6.77 per cent and 9.89 per cent, respectively in Sensex.
— IANS
Reader Comments
Pine Labs has been a household name in merchant payments, but the stock performance is really disappointing. Down 35% in a year? That's worse than what Sensex lost. Investors must be worried. 😟
Interesting numbers. The sequential dip seems bad, but if you look at it YoY, it's actually remarkable growth from Rs 4.79 cr to Rs 19.57 cr. Fintech is a long game—quarterly noise shouldn't distract from the bigger picture.
Revenue up expenses also up—that's the classic story. They need to control costs, Rs 728 cr expenses on Rs 736 cr revenue is razor-thin margin. Profitability will only come if they scale better. India needs more efficient fintech!
Q-o-Q decline is concerning for sure, but the YoY jump shows they're on the right track. Stock is beaten down though—34% drop YTD. Might be a good buying opportunity if you believe in their long-term vision. Just my take.
Honestly, 67% drop in profit is no joke. But Pine Labs has a strong moat in offline payments in India. Maybe this is just a temporary blip due to higher investments. Let's wait and watch for next quarter results! 🔍
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