Pine Labs Q2 FY27: Net Profit Rises Over Sixfold to ₹38.6 Crore
- Revenue from operations rose 24% to ₹806.19 crore, while total income reached ₹831.74 crore.
- Platform GTV stood at ₹4.45 lakh crore across 229 crore transactions during the quarter.
- Adjusted EBITDA rose 27% to ₹155 crore, with the adjusted margin reaching 19.2%.
Fintech company Pine Labs reported a consolidated net profit of ₹38.57 crore for the quarter ended September 30, 2026, up more than sixfold from ₹5.97 crore in the corresponding quarter last year.
Revenue from operations increased 24% year-on-year to ₹806.19 crore from ₹649.90 crore in Q2 FY26. Including other income of ₹25.55 crore, total income stood at ₹831.74 crore, compared with ₹672.91 crore a year earlier. On a sequential basis, net profit rose 97% from ₹19.57 crore in Q1 FY27, while operating revenue increased 9.4%.
Profit before tax increased to ₹61.37 crore from ₹11.23 crore in the year-ago quarter. Total expenses rose 16% year-on-year to ₹770.4 crore, slower than the growth in operating revenue.
Reported EBITDA increased to around ₹126 crore from ₹75 crore, with the margin rising to approximately 15.6% from 11.5%. On an adjusted basis, EBITDA stood at ₹155 crore, up 27% year-on-year, with an adjusted EBITDA margin of 19.2%. Operating cash flow doubled to ₹350 crore.
Payment Platforms Drive Revenue Growth
Pine Labs reported growth across both of its major operating segments during Q2 FY27.
Revenue from its Digital Infrastructure and Transaction Platform (DITP) increased 20.8% year-on-year to ₹531.55 crore from ₹440.06 crore. Its Issuing and Acquiring Platform (AIP) revenue grew 30.9% to ₹274.64 crore from ₹209.84 crore.
The company processed approximately ₹4.45 lakh crore in platform gross transaction value across 229 crore transactions during the quarter. It processed around 25 million transactions per day, representing a 22% year-on-year increase.
Pine Labs’ merchant network grew 13% year-on-year to approximately 11.6 lakh, while digital checkout points increased 17% to around 22.3 lakh. The company also said that more than 29% of DITP gross transaction value was monetised through volume-linked products, compared with 15% a year earlier.
Products launched during the past two years contributed around 14% of quarterly revenue, while international markets accounted for approximately 15% of revenue. Pine Labs reported around 40% year-on-year revenue growth in Southeast Asia.
UPI continues to account for a large share of transaction activity on the company’s digital commerce platform. Pine Labs is also expanding its UPI infrastructure, including its planned deployment of 10 lakh soundboxes across India.
Pine Labs Targets 21-23% Revenue Growth
Pine Labs plans to continue investing in payment infrastructure, new products and international markets, including the UAE, the Philippines and Singapore.
The company is also looking to expand its UPI-based merchant payment business and increase monetisation of transaction volumes. Management has indicated that a change in India’s UPI merchant discount rate framework could create additional monetisation opportunities, although no such revenue has been assumed until any policy change is formally implemented.
Pine Labs is targeting annual revenue growth of 21–23% and EBITDA margins above 20%. CEO B. Amrish Rau said the company is focused on balancing investments in new products and geographies with profitability.
The company also operates SignalIQ, an AI-based credit underwriting platform, and continues to expand its payment acceptance, issuing and digital commerce infrastructure across India and international markets.