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The global fintech platform Pine Labs reported a profit of Rs 6 crore in the second quarter of FY26, marking a strong turnaround from a loss of Rs 32 crore during the same quarter last year.
The company said its Profit After Tax swung by Rs 38 crore year-on-year, driven by lower depreciation and ESOP expenses, resulting in a significant uplift in profitability. It stated "Profit After Tax swung by Rs 38 Cr YoY, moving from a loss of Rs 32 Cr in Q2FY25 to a profit of Rs 6 Cr in Q2 FY26, reflecting a significant uplift in profitability due to lower depreciation and ESOP expenses". The company announced its financial results for the quarter ended September 30, 2025, highlighting steady growth and continued momentum across business verticals. It shared that revenue from operations grew 18 per cent YoY to Rs 650 crore, supported by robust expansion in issuing services, affordability programs, and online payments businesses, which continue to outperform the in-store payments segment, in line with its long-term growth strategy. Pine Labs also posted Adjusted EBITDA of Rs 122 crore, representing 62 per cent YoY growth, with margins improving sharply from 14 per cent to 19 per cent, reflecting strong operating leverage. The company generated positive operating cash flow of Rs 241 crore (excluding early settlement) and Rs 152 crore, including early settlement during the quarter. The fintech firm recorded its highest-ever quarterly Gross Transaction Value (GTV) of over USD 48 billion and surpassed 1.0 million merchants on its platform, showcasing expansion in both scale and customer reach. Pine Labs continued to grow its global footprint, with 17 per cent of its Q2 FY26 revenue coming from international markets, compared to 15 per cent in the same period of FY25. The company said the growth in revenue was supported by its expanding portfolio in payments and merchant solutions. Pine Labs provides financial technology and payment services including point-of-sale terminals for in-store transactions, online payment gateways, merchant financing, prepaid and gift card offerings, and embedded finance solutions for retail and e-commerce businesses. Pine Labs recently launched its initial public offering (IPO) on November 14. As of Thursday, at the time of filing this report, the company's share price was trading at Rs 249. (ANI)
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