Fintech and payments-infrastructure firm Pine Labs has returned to profitability in the quarter ended September 2025 (Q2 FY26), posting a consolidated net profit of ₹6 crore, up from a loss of ₹32 crore in the same period last year. The Economic Times
This marks a significant turnaround and represents the company’s strongest quarterly performance since its recent listing.
📈 Key Highlights from Q2
- Revenue grows 18% YoY — Revenue from operations rose to ₹650 crore in Q2 FY26, compared with ₹552–552.5 crore in Q2 FY25.
- EBITDA improvement — Adjusted EBITDA jumped 62% year-on-year to ₹122 crore. The EBITDA margin improved from 14% in Q2 FY25 to roughly 19% in Q2 FY26
- Strong operational metrics — The firm processed its highest ever quarterly Gross Transaction Value (GTV) of over US $48 billion, with growth across online payments, issuing, affordability services and merchant acquisition.
- Improved cost structure — Pine Labs cited lower depreciation and reduced ESOP-related charges as key factors behind improved margins and profitability.
- Merchant base and scale expansion — The company crossed 1 million merchants on its platform and saw healthy growth in transaction volumes and merchant activity.
🔎 What This Means for Pine Labs
Pine Labs’ return to profit signals a turning point: after posting losses in recent quarters, the fintech firm appears to be successfully leveraging its scale, expanding high-margin lines (online payments, issuing, etc.), and reining in costs.
The improved margins and operational efficiency suggest that Pine Labs may have found a sustainable path to profitability — an encouraging sign for investors, especially considering the company recently got listed.
Given the strong growth in transaction volume, merchant base, and revenue mix, Pine Labs could now focus on scaling further: deeper penetration in digital payments, expansion in issuing/fintech services, and possibly new products in embedded finance.
However — as with any financial-performance recovery — the challenge will be to maintain consistency: sustaining growth in revenue and margins quarter over quarter will be key to building long-term confidence.
