Pine Labs posts ₹6cr profit in Q2, revenue surges 18%
What's the story
Pine Labs, a leading digital payments processor, has reported a net profit of ₹5.97 crore for the July-September quarter of FY26. This is a major turnaround from the net loss of ₹32.01 crore in the same period last year. The company's financial performance also improved from the previous quarter when it had posted a net profit of ₹5 crore during Q1 FY26.
Financial growth
Revenue and expenses in Q2 FY26
Pine Labs reported an 18% year-on-year increase in its revenue from operations, totaling ₹649.90 crore for the July-September quarter of FY26. This is up from ₹551.57 crore during the same period last year. However, the company's expenses also increased by more than 8% YoY to ₹661.68 crore during this period.
Operational performance
Pine Labs's adjusted EBITDA and transaction value
Pine Labs's adjusted EBITDA jumped 62% YoY to ₹122 crore, with margins expanding from 14% to 19%. The company also reported a record-high quarterly Gross Transaction Value (GTV) of over $48 billion and onboarded more than one million merchants on its platform during Q2.
Market expansion
International revenue and transaction growth
Pine Labs's international revenue accounted for 17% of its Q2 FY26 earnings, up from 15% in the same period last year. The number of transactions on its platform grew by 44% YoY to 190 crore, reflecting the increasing scale, depth, and frequency of platform usage across all businesses. "Our merchant, bank and corporate partners continue to prefer using the Pine Labs platform to deliver a seamless experience for their consumers," said the company in its statement.