Pine Labs has clocked its first quarterly net profit
What's the story
Pine Labs, a leading online payments company, has reported its first-ever quarterly net profit in the June quarter of FY26. The company's financial performance was bolstered by a strong growth in operating revenue. According to the financials disclosed in its red herring prospectus filed on Friday, Pine Labs recorded a net profit of ₹4.8 crore during this period.
Revenue growth
Pine Labs's operating revenue jumps by over 28% in FY25
For the fiscal year 2025 (FY25), Pine Labs reported an operating revenue of ₹2,274 crore. This marks a massive jump of 28.5% from ₹1,769 crore in FY24. The company's revenue for the first quarter of FY26 also witnessed a year-on-year increase of 17.8%, reaching ₹615 crore.
Loss reduction
Net loss reduced by over 57%
Despite the financial growth, Pine Labs still posted a net loss of ₹145 crore for FY25. However, this was a significant reduction of 57.4% from ₹341 crore in FY24. The company's adjusted EBITDA (before Esop costs) also saw an increase to ₹356 crore in FY25, up from ₹158 crore in FY24 and ₹196 crore in FY23.
Market strategy
A look at the IPO plans
Pine Labs is gearing up for an initial public offering (IPO) in the coming weeks. The company plans to issue fresh shares worth ₹2,600 crore and an offer for sale (OFS) of 147.8 million shares. It is targeting a valuation of $4-5 billion with billions in transactions processed annually. In FY25 alone, Pine Labs processed 5.7 billion transactions across 954,000 merchants and expanded its partnerships with financial institutions to 198, powering around 690 consumer brands.