Pine Labs Limited has announced its financial results for the quarter ended 30 September 2025 (Q2 FY26), reporting revenue of Rs 650 crore, marking 6 per cent quarter-on-quarter growth and 18 per cent year-on-year growth.
Adjusted EBITDA rose 62 per cent year-on-year to Rs 122 crore, with margins improving from 14 per cent to 19 per cent, resulting in the Company’s second consecutive quarter of positive profit after tax.
Pine Labs recorded a contribution margin of Rs 497 crore, reflecting 21 per cent year-on-year growth. Profit after tax for the quarter stood at Rs 6 crore, compared with a loss of Rs 32 crore in the same period last year. Operating cash flow for the quarter amounted to Rs 241 crore excluding early settlements and Rs 152 crore including early settlements.
The company continued to expand its international presence, with 17 per cent of Q2 FY26 revenue arising from overseas operations, up from 15 per cent in Q2 FY25. During the quarter, Pine Labs processed its highest-ever quarterly Gross Transaction Value of over $48 billion (approximately Rs 4.24 lakh crore), representing 92 per cent year-on-year growth.
The number of transactions processed reached 1.9 billion, showing 44 per cent year-on-year growth, while digital checkout points reached 1.9 million. The merchant base crossed 1 million, registering 29 per cent year-on-year growth.
The company stated that revenue continues to be recognised on a net basis, after deducting payment processing charges and pass-through costs, in line with its business model.
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