In a significant milestone following its positive public debut, Pine Labs reported a consolidated net profit of ₹42 crore for the third quarter (Q3 FY26) on January 28, 2026.
This result marks a dramatic turnaround for the fintech giant, which had posted a loss of ₹57 crore in the same period last year. The profit surge was driven by a 24% year-on-year growth in operating revenue and disciplined cost management across its digital payment and merchant commerce platforms.
SEO Title: Pine Labs Q3 Results 2026: Posts ₹42 Crore Profit as Revenue Jumps 24%
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Meta Description: Pine Labs reported a ₹42 crore net profit in Q3 FY26, reversing a ₹57 crore loss. Discover the impact of its 24% revenue growth and recent Indian stock market listing.
1. Financial Highlights: The Path to Profitability
The Q3 results reflect the third consecutive quarter of positive Profit After Tax (PAT) for Pine Labs in fiscal year 2026, solidifying its status as a self-sustaining fintech powerhouse.
| Financial Metric | Q3 FY25 (Actual) | Q3 FY26 (Actual) | Change (YoY) |
| Operating Revenue | ₹601 Crore | ₹744 Crore | ↑ 24% |
| Net Profit / Loss | (₹57 Crore) | ₹42 Crore | Turnaround |
| Adjusted EBITDA | ₹108 Crore | ₹171 Crore | ↑ 59% |
| Gross Transaction Value | $31 Billion | $51 Billion | ↑ 65% |
2. Key Growth Drivers in 2026
The company attributed its strong quarterly performance to the expansion of high-margin verticals and its successful IPO in late 2025.
- Revenue Diversification: While in-store payments remain a core pillar, the Issuing, Affordability (EMI), and Online Payments businesses outpaced traditional growth, contributing significantly to higher margins.
- International Expansion: Overseas operations, particularly in Southeast Asia and the UAE, now account for nearly 18% of total revenue, up from 15% last year.
- Cost Discipline: Total expenses increased by only 13% despite a 24% jump in revenue. Employee benefit costs, the largest expense center, grew by a modest 5% due to optimized hiring.
- Account Aggregator License: Earlier this month, Pine Labs received RBI approval to fully acquire Agya Technologies, strengthening its play in the lending and account aggregation ecosystem.
3. Market Performance Post-IPO
Pine Labs made a successful debut on the Indian stock exchanges in November 2025, and its Q3 performance has bolstered investor confidence.
- Stock Debut: Listed at a 9.5% premium (₹242 per share) over its issue price of ₹221.
- Current Valuation: As of the earnings announcement, the stock is trading near ₹233–₹240, giving the company a market capitalization of approximately ₹27,000 crore (~$3 billion).
- Analyst Sentiment: Major firms like Jefferies have recently initiated coverage with a “Buy” rating, citing a target price of ₹300 based on the company’s strong operating leverage.
4. Future Outlook: The “Vertical” Strategy
CEO Amrish Rau indicated that the company will continue to focus on “high-yield” business segments through 2026:
- The “Rubin” Launch: Pine Labs is expected to be one of the first fintechs to leverage new AI-driven analytics for merchants.
- Omnichannel Focus: With the recent acquisition of Setu and its integration into the core platform, Pine Labs is targeting a seamless “online-to-offline” experience for its 1 million+ onboarded merchants.
Conclusion: A New Era for Indian Fintech
Pine Labs’ ₹42 crore profit is a landmark signal for the Indian fintech industry, proving that mature startups can successfully transition from high-growth losses to sustainable public-market profitability. By maintaining its 20%+ revenue growth while expanding margins, Pine Labs is setting the benchmark for the “post-IPO” performance of India’s tech unicorns.
