Pine Labs Q2 Profit Jumps Sixfold to ₹38.57 Crore — Startup Funding India, October 2026

Fintech company Pine Labs reported a more than sixfold jump in second-quarter profit on 29 October 2026, as rising adoption of digital payments lifted its business and its shares rose nearly 6%. Consolidated profit after tax reached ₹38.57 crore in the quarter ended September 2026, up from ₹5.97 crore a year earlier, while revenue from operations grew 24% to ₹806.19 crore from ₹649.90 crore.

The numbers behind the jump

For the half year, revenue rose to ₹1,543.11 crore from ₹1,265.81 crore, and net profit increased to ₹58.14 crore from ₹10.76 crore. Adjusted EBITDA grew 27% to ₹155 crore at a 19.2% margin, operating cash flow doubled to ₹350 crore, and gross transaction value reached about $46.5 billion (₹4.45 lakh crore) across 229 crore transactions. Net cash stood at ₹2,345 crore at the end of September. Its largest segment, digital infrastructure and transaction platforms monetised through subscriptions and transaction fees, grew revenue 20.8%, and demand for payment terminals strengthened in the mid-market, where digital checkout points grew 49% year on year.

Why it matters

Pine Labs also flagged a potential tailwind from the government’s proposed framework of a 0.4% merchant charge on UPI transactions above ₹2,000, noting nearly two-thirds of its UPI gross transaction value comes from transactions above that threshold. This is a distinct story from Pine Labs’ recent stock-option grants covered earlier on this blog.