Pine Labs Q2 results: Co goes black, posts profit of Rs 6 crore, sales rise 18%

Payment solutions company Pine Labs returned to the black in the quarter ended September, reporting a consolidated net profit of Rs 6 crore versus a loss of Rs 32 crore in the year-ago period. The company’s revenue from operations in Q2FY26 stood at Rs 650 crore, up 18% from Rs 552 crore reported in the corresponding quarter of the last fiscal.

These were Pine Lab’s first revenues since its stock exchange listing in November this year.

Profit after tax (PAT) rose 25% on a sequential basis compared to Rs 5 crore in Q1-26, while revenue rose nearly 6% on a quarter-on-quarter basis compared to Rs 616 crore in the April-June quarter of FY26.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 62% year-on-year to Rs 122 crore, with margins rising from 14% to 19%, driven by strong operating leverage. The company generated robust operating positive cash flow of Rs 241 crore (excluding early settlement) and Rs 152 Cr including early settlement during the quarter.

Pine Labs continued to strengthen its presence in international markets, with 17% of revenue in Q2FY26 coming from overseas operations, compared to 15% in Q2 FY25, a company statement said.

During the quarter, Pine Labs processed its highest-ever gross transaction value (GTV) of over $48 billion, surpassing the 1.0 million sellers on its platform.

The company’s contribution margin grew 21% year-on-year to Rs 497 crore. Each Rs 100 incremental contribution margin creates an incremental adjusted EBITDA of Rs 50 – Rs 57, underscoring the strong operating leverage in the business, the filing said.

The stock was listed at a premium of 13.52% at Rs 251 over the issue price. The stock is currently trading at Rs 246.98, up 11.76 from the issue price, though lower than the listing price.