Pine Labs Limited announced its financial results for the third quarter of FY2026, reporting a robust revenue of ₹744 Crore, marking a 24% year-on-year increase from ₹600 Crore in the same quarter last year. The company's contribution margin stood at ₹551 Crore. Adjusted EBITDA was reported at ₹171 Crore, while Profit After Tax (PAT) was ₹42 Crore. This PAT figure accounts for a ₹12 Crore impact from recent labor code reforms; without this, PAT would have been approximately ₹52 Crore. The company highlighted significant operational leverage, with margins expanding to 23% from 16% a year ago. Headcount increased by a modest 6%, while people costs grew by 6-8%, demonstrating effective cost management and technological integration, including AI in code development and fraud prevention. Key business segments, digital payments and issuance, both showed healthy growth. The digital payments business grew by 16%, and the issuance business saw a substantial 42% growth. Value-added services on the digital checkout points also performed strongly, with a 41% year-on-year volume growth reaching ₹76,000 Crore, driven significantly by the affordability (Buy Now, Pay Later) segment. Pine Labs showcased new product innovations, including the "Bharat Yatra" national mobility card powered by its platform for prepaid transit services, and enhanced capabilities for cross-border transactions with Apple Pay integration for Indian merchants. The company reiterated its vision to be a leading payments and commerce platform globally, with a presence in approximately 20 countries. During the quarter, Pine Labs onboarded 120 new brands. The company processed over $51 billion in payment volumes, exceeding $200 billion in cumulative transaction processing on its platforms. Management emphasized a continued focus on expanding its multi-product and multi-segment offerings, drawing parallels with global players like Stripe and Adyen.
