Pine Labs swings to black with Rs 42-crore net profit in Q3, revenue rises 24%

Pine Labs swings to net profit

• Pine Labs posted Rs 42 crore profit in Q3, reversing last year's Rs 57 crore loss.
• Operating revenue rose 24 percent to Rs 744 crore in Q3, driven by festive sales
• Gross transaction value reached $50B, up 29% YoY, setting a quarterly record.

Did our AI summary help?

Fintech firm Pine Labs on January 28 reported a consolidated net profit of Rs 42 crore in the December quarter, compared to Rs 57 crore loss during the same quarter of the previous financial year, as the company's higher margin business did well, the company said in an announcement to stock exchanges.

The company’s net profit for Q3 FY26 rose sequentially as it had reported a net profit of Rs 6 crore during Q2 of the same financial year (July-September, 2025).

The third quarter is a seasonally strong quarter for the company because of the festive sales in October.

Pine Labs, which got listed on stock markets last year, also saw lower depreciation, amortisation and a stable Employee Stock Option Plan has also helped the company improve its margin from 18 percent to 23 percent, the company said in a statement.

The company reported Rs 10 crore as a one-time cost due to the new labour codes, without which its net profit would have been Rs 52 crore for the quarter, the company said.

The Gurugram-based fintech firm reported a 24 percent increase in consolidated operating revenue at Rs 744 crore during Q3, compared with Rs 602 crore during Q3 of FY 25.

During the September quarter of the current financial year, Pine Labs had reported revenue from operations at Rs 673 crore.

The company has signed up new large customers, including Honeywell, Carrier, Philips, Waymo, Miniso, and Blinkit, among others. It also launched new payment products, including agentic bill payments, mAadhaar, Apple Pay, and UPI Autopay.

Pine Labs also launched a co-branded prepaid programme with expense management platforms like Zoho and Pazy.

The payment platform’s gross transaction value grew 29 percent year-on-year to $50 billion or Rs 4.5 lakh crore, the highest ever quarterly volumes for both digital and physical infrastructure of the company. The transaction volume also grew 23 percent during the quarter.