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Results · Financial Services

Pine Labs reports Rs 42 crore profit in Q3 FY26, revenue up 24%

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Pine Labs logo
Date
Company
Pine Labs
What it does
fintech payments and digital infrastructure
Kind
Results
Stage
public
Sector
Financial Services

What they do

Pine Labs, a fintech company, reported a profit of Rs 42 crore in Q3 FY26, up from a loss of Rs 57 crore in the same quarter last year

What happened

The company’s revenue from operations rose 24% year-on-year to Rs 744 crore, driven by growth in issuing, affordability solutions, and online payments

Why it matters

Pine Labs also received RBI approval to fully acquire Agya Technologies, a licensed account aggregator, strengthening its presence in the account…

The details

  • The company’s revenue from operations rose 24% year-on-year to Rs 744 crore in Q3 FY26, driven by growth in issuing, affordability solutions, and online payments.
  • Pine Labs’ platform gross transaction value (GTV) grew 29% year-on-year to $50.6 billion, or about Rs 4.5 lakh crore, marking the highest-ever quarterly volumes.
  • The number of transactions rose 23% year-on-year to 192.6 crore, reflecting deeper engagement and higher frequency of usage across merchant and enterprise clients.
  • Pine Labs received Reserve Bank of India (RBI) approval to fully acquire RBI-licensed account aggregator Agya Technologies, increasing its stake to 100%.

The bigger picture

  • Pine Labs’ profitability and revenue growth reflect strong performance in its core businesses, including issuing, affordability solutions, and online payments.
  • The company’s listing on Indian stock exchanges in the same quarter contributed to its positive market debut, with shares opening at a 9.5% premium over the issue price.
  • The working capital outflow during the festive period is expected to normalise in the following quarter.

About the business

  • Pine Labs operates in the fintech sector, providing digital infrastructure and transaction platforms for merchants and enterprise clients.
  • The company’s core businesses include issuing, affordability solutions, and online payments.
  • Pine Labs processes a large volume of transactions, with a gross transaction value (GTV) of $50.6 billion in Q3 FY26.
  • The company’s revenue is recognised on a net basis, reflecting amounts retained after payment processing fees and pass-through charges payable to banks and network partners.
  • Pine Labs has a strong presence in the account aggregation ecosystem, having acquired Agya Technologies, an RBI-licensed account aggregator.

The deal

Type
results

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