Pine Labs reports ₹26.1 crore profit in 9MFY25
Pine Labs just flipped the script—after losing ₹187 crore last year, the fintech company is now in the black with a ₹26.1 crore net profit for the first nine months of FY25.
This financial comeback comes right as Pine Labs gears up for its IPO and files its draft papers with SEBI.
The big turnaround mostly happened because they dropped some hefty share-based payment expenses from last year's books.
Revenue up 23% at ₹1,208 crore
Revenue jumped 23% to ₹1,208 crore, thanks to more people using their payment processing services and a boost in their device-as-a-service (DaaS) rentals.
Their Digital Infrastructure and Transaction Platform did most of the heavy lifting—handling nearly 4 billion transactions worth over ₹2.85 lakh crore and making up 76% of total revenue.
Plus, their prepaid card business is growing fast after bringing Qwikcilver on board.