Noida-based fintech firm Pine Labs Ltd on Wednesday (December 3) reported a net profit of ₹5.97 crore in the second quarter, reversing a loss of ₹32 crore in the same period last year, due to lower depreciation and ESOP expenses.
Revenue for the quarter increased 17.8% to ₹650 crore compared with ₹552 crore a year earlier, supported by issuing, affordability and online payments businesses, which continued to grow faster than the in-store payments segment.
The company recognises revenue on a net basis after deducting payment processing fees and passthrough charges paid to banks and network partners. EBITDA rose to ₹75.3 crore from ₹32.2 crore in the year-ago quarter. The EBITDA margin improved to 11.6% in the second quarter, up from 5.8% last year.
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Pine Labs generated strong operating cash flow in the second quarter, recording ₹241 crore, excluding early settlement, and ₹152 crore, including early settlement. The company expanded its international presence, with revenue from overseas operations rising in Q2FY26 compared with Q2FY25.
Platform gross transaction value increased to $48.2 billion (₹424,000 crore) during the quarter, marking Pine Labs’ highest quarterly GTV, and the platform crossed one million merchants. The number of transactions rose to 1.9 billion, reflecting growing usage across merchant, bank and corporate partners.
Contribution margin increased to ₹497 crore in the quarter. For every ₹100 increase in contribution margin, the company generates about ₹50-57 in incremental adjusted EBITDA.
Shares of Pine Labs Ltd ended at ₹247.60, down by ₹2.10, or 0.84%, on the BSE today, December 3.
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(Edited by : Shoma Bhattacharjee)