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Pine Labs' Stunning Turnaround: From Rs 32 Cr Loss to Profit Amid 18% Revenue Surge

Pine Labs has made a remarkable financial comeback. The fintech giant swung from a loss to a profit this past quarter. Its revenue and transaction values also hit impressive new highs. This strong performance comes shortly after the company's recent public listing.

Key Points: Pine Labs Posts Rs 6 Cr Q2 FY26 Profit After Year-Ago Loss

  • Swung to a Rs 6 crore profit from a Rs 32 crore loss in the same quarter last year
  • Revenue grew 18% year-on-year to reach Rs 650 crore
  • Achieved record Gross Transaction Value of over USD 48 billion
  • Adjusted EBITDA surged 62% with margins improving to 19%
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Pine Labs posts Rs 6 cr profit in Q2 FY26 after last year's Q2 loss of Rs 32 cr, revenue rises 18% YoY

Pine Labs reports a Rs 38 crore swing to profit in Q2 FY26, with revenue up 18% YoY to Rs 650 crore and record quarterly GTV exceeding $48 billion.

"Profit After Tax swung by Rs 38 Cr YoY... reflecting a significant uplift in profitability - Pine Labs Statement"

New Delhi, December 4

The global fintech platform Pine Labs reported a profit of Rs 6 crore in the second quarter of FY26, marking a strong turnaround from a loss of Rs 32 crore during the same quarter last year.

The company said its Profit After Tax swung by Rs 38 crore year-on-year, driven by lower depreciation and ESOP expenses, resulting in a significant uplift in profitability.

It stated "Profit After Tax swung by Rs 38 Cr YoY, moving from a loss of Rs 32 Cr in Q2FY25 to a profit of Rs 6 Cr in Q2 FY26, reflecting a significant uplift in profitability due to lower depreciation and ESOP expenses".

The company announced its financial results for the quarter ended September 30, 2025, highlighting steady growth and continued momentum across business verticals.

It shared that revenue from operations grew 18 per cent YoY to Rs 650 crore, supported by robust expansion in issuing services, affordability programs, and online payments businesses, which continue to outperform the in-store payments segment, in line with its long-term growth strategy.

Pine Labs also posted Adjusted EBITDA of Rs 122 crore, representing 62 per cent YoY growth, with margins improving sharply from 14 per cent to 19 per cent, reflecting strong operating leverage.

The company generated positive operating cash flow of Rs 241 crore (excluding early settlement) and Rs 152 crore, including early settlement during the quarter.

The fintech firm recorded its highest-ever quarterly Gross Transaction Value (GTV) of over USD 48 billion and surpassed 1.0 million merchants on its platform, showcasing expansion in both scale and customer reach.

Pine Labs continued to grow its global footprint, with 17 per cent of its Q2 FY26 revenue coming from international markets, compared to 15 per cent in the same period of FY25.

The company said the growth in revenue was supported by its expanding portfolio in payments and merchant solutions.

Pine Labs provides financial technology and payment services including point-of-sale terminals for in-store transactions, online payment gateways, merchant financing, prepaid and gift card offerings, and embedded finance solutions for retail and e-commerce businesses.

Pine Labs recently launched its initial public offering (IPO) on November 14. As of Thursday, at the time of filing this report, the company's share price was trading at Rs 249.

- ANI

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Reader Comments

R
Rohit P
Good to see an Indian company doing well internationally with 17% revenue from global markets. The GTV of over $48 billion is mind-boggling! Hope this success translates to more innovation and better services for our local kirana stores too.
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Aman W
While the profit is welcome, the note about "lower depreciation and ESOP expenses" driving it gives me pause. Is this sustainable operational profit or just accounting? Need to see if this growth holds for the next few quarters.
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Sarah B
Crossing 1 million merchants is the real story here. Digital payment adoption in India is exploding, and companies like Pine Labs are at the heart of it. Their POS terminals are everywhere in my city now.
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Vikram M
EBITDA margin improving from 14% to 19% is very impressive. Strong operating leverage indeed. Positive cash flow of Rs 241 crore is the cherry on top. Looks like a solid bet post-IPO. 🚀
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Kavya N
As a small business owner, I use their services. The affordability programs and merchant financing are a big help. Glad to see they're doing well financially—hopefully they'll keep supporting MSMEs like mine.

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