Pine Labs posts first full-year profit of ₹112.5 Cr in FY26
Pine Labs reported its first full-year consolidated profit of ₹112.5 Cr in FY26, reversing a loss of ₹145.5 Cr the prior year. Operating revenue rose 19% to ₹2,710.6 Cr and adjusted EBITDA jumped 57% to ₹559 Cr in the same period.
By Q1 FY27, Pine Labs served over 11.5 lakh merchants across India, Southeast Asia and the Middle East.
Founded in 1998 to help petrol pumps accept payments and manage loyalty programmes, Pine Labs expanded through acquisitions such as Qwikcilver for gift cards, Fave for consumer rewards and Mosambee for merchant acceptance. After deferring a planned US IPO targeting $500 million in 2022 due to weak markets, the company opted for an Indian listing by merging its Singapore holding company with its Indian entity in June 2025.
What we know
By Q1 FY27, the fintech was serving 11.5 Lakh+ merchants, alongside brands and financial institutions, across India, Southeast Asia and the Middle East.
The payoff came in FY26, when Pine Labs reported its first full-year consolidated profit of ₹112.5 Cr, compared with a loss of ₹145.5 Cr in FY25.
Operating revenue grew 19% to ₹2,710.6 Cr, while adjusted EBITDA jumped 57% to ₹559 Cr.
Revenue rose 20% year on year (YoY) to ₹736.9 Cr and net profit more than quadrupled to ₹19.6 Cr
In September 2026, PhonePe announced plans to deploy more than 50 Lakh additional payment devices and hire over 20,000 frontline sales staff over the following year, with a substantial rural focus.