Fintech unicorn Pine Labs turns profitable in FY25, reporting a net profit of ₹26 crore in the first nine months of the financial year. This financial turnaround comes just ahead of the company’s ₹2,600 crore IPO filing, showing strong fundamentals as it heads to the public markets.
Financial Performance Snapshot
In FY24, Pine Labs posted ₹1,743 crore in revenue with a net loss of ₹339 crore. However, the company reversed its fortunes in FY25, delivering positive earnings for the first time. This shift is driven by robust growth in digital payment services, merchant solutions, and improved operational efficiencyeconomictimes
Business Drivers Behind Profitability
Pine Labs achieved profitability by scaling its merchant acquisition across India and Southeast Asia, enhancing its POS solutions, buy-now-pay-later (BNPL) services, and gift card platforms. Strategic cost management and increased monetization from value-added services contributed to the bottom line.
The company now serves over 900,000 merchants and is expanding operations in Malaysia, Singapore, and the UAE.
IPO Plans Aligned with Growth
With a fresh issue of ₹2,600 crore and additional offer-for-sale (OFS) from investors like Peak XV (formerly Sequoia Capital India), PayPal, and Mastercard, Pine Labs aims to use proceeds for:
- Debt repayment (₹870 crore)
- Technology upgrades and R&D
- Subsidiary expansion abroad
- General corporate needs
Investor Confidence Grows
Turning profitable boosts confidence among IPO investors, especially in a tough macroeconomic climate. Pine Labs’ strong revenue growth, global strategy, and diversified fintech offerings put it in a solid position for a successful listing.
Conclusion
Pine Labs turns profitable in FY25, signaling its readiness for public markets. With strong financials, global expansion, and a ₹2,600 crore IPO ahead, the company sets the stage to lead the next phase of India’s fintech evolution.
