Pine Labs Q2 results show net profit up 84% to ₹38.6 crore

Pine Labs reported that its Q2 FY27 net profit rose 84% to ₹38.6 crore from ₹6 crore in the corresponding quarter of the previous fiscal. Consolidated revenue increased to ₹806.2 crore for the quarter ended September, while the company said it recorded growth in both its acceptance and issuing businesses. NSE data showed Pine Labs shares reached ₹174.80 during Thursday's trading session after the results.

Pine Labs reports ₹806.2 crore revenue and ₹126 crore EBITDA in Q2 FY27

Pine Labs disclosed its consolidated revenue for the quarter ended September at ₹806.2 crores as against ₹650 crores in the corresponding period of previous year.

The company's EBITDA increased to ₹126 crore from ₹75.3 crore a year earlier. Pine Labs said the EBITDA margin moved up from 11.6% to 15.6%.

Pine Labs shares reached ₹174.80 before trading at ₹166.20 around 2 PM

Pine Labs share price surged more than 7% on Thursday’s intraday trading after the company’s Q2 results. On NSE, the stock was trading at ₹174.80, up 7.5% on the day.

At around 2 PM IST, the shares were trading at ₹166.20, up 3.32%, NSE data showed.

Pine Labs targets 21-23% revenue growth and EBITDA margins above 20%

Amrish Rau, Chief Executive Officer of Pine Labs, said the company recorded growth in both its acceptance and issuing businesses during the quarter.

Rau said international markets made up 15% of revenue. Products launched over the past two years accounted for 14% of revenue, he added.

Rau said Pine Labs was targeting revenue growth of 21-23% together with EBITDA margins above 20%. He also said the company had been EBITDA-positive for a long time and was balancing spending on new products, ideas and geographies with profitability.

Pine Labs processes around ₹20,000 crore in monthly UPI GTV

Pine Labs said its average UPI ticket size was around ₹1,400 in Q2 FY27.

The company said transactions above ₹2,000 represented more than 65% of UPI GTV. It also said more than 70% of transactions on its digital commerce platform were UPI-led.

Pine Labs processes around ₹20,000 crore in monthly UPI GTV. The company said this figure had grown at a compound annual growth rate of 68% over the past two years.

Pine Labs said it was targeting monthly UPI GTV of around ₹33,000-34,000 crore in FY28.