Pine Labs reports 610% QoQ increase in net profit; Check the revenue segmentation

Synopsis: Pine Labs shares jumped 7% after Q3 FY26 profit surged to ₹42 crore, while revenue rose 23% YoY to ₹744 crore, led by digital infrastructure and issuing platforms.

The shares of this company, which offers Android-based POS terminals, online payment gateways, and prepaid/issuing solutions, came into focus after the company turned profitable in Q3.

With a market capitalization of Rs 26,611 crore, Pine Labs Ltd’s shares on Wednesday made a day high of Rs 245  per share, up by 4.3 percent from its previous day’s close price of Rs 228.9 per share. The share has given a negative returne 7.7 percent since its listing in November 2025.

Results Highlights

QoQ view: The revenue from operations grew by 14 percent to Rs 744.27 crore in Q3 FY26 from Rs 649.9 crore in Q2 FY26. Accompanied by a net profit growth of 610 percent QoQ to Rs 42.39 crore in Q3 FY26 from Rs 5.97 crore in Q2 FY26, resulting in an EPS of Rs 0.38  per share in the same period from an EPS of Rs 0.06 per share in Q2 FY26.

YoY view: The revenue from operations grew by 23 percent to Rs 744.27 crore in Q3 FY26 from Rs 601.64 crore in Q3 FY25. Accompanied by a net profit that turned positive to Rs 42.39 crore in Q3 FY26 from a loss of Rs 56.67 crore in Q3 FY25, resulting in an EPS of Rs 0.26 per share in the same period from a negative EPS in Q3 FY25.

Segment-wise revenue mix: Of the total revenue of Rs 744 crore, the Digital Infrastructure and Transaction Platform segment contributed Rs 496.3 crore, registering a YoY growth of 16.3 percent. Meanwhile, the Issuing and Acquiring Platform segment generated Rs248 crore, marking a robust 41 percent YoY growth.

Segments that grew in Q3

In-store payments: Subscription-linked revenues from Digital Commerce Platforms (DCPs) contributed 27 percent of total revenue in Q3 FY26. Additionally, 28 percent of the DCP base, up 7 percent YoY, generated value-added services, affordability solutions, and transaction volumes, indicating steady sequential growth and deeper monetisation of the installed infrastructure.

Online payments: Online payments revenue surged around 50 percent YoY, driven by expansion into new sectors such as hospitality, diagnostics, and fitness. Merchant additions included Thyrocare, Cultfit, Lenskart, Myntra, Swiggy, Navi, and Redbus, supported by new offerings like Apple Pay for international users and a subscription stack enabled via UPI Autopay.

Fintech Infrastructure: The company’s best-in-class technology platform sustained strong momentum, delivering over 38 percent YoY growth in transactions. This was driven by rising adoption across Bharat Connect (BBPS), the UPI switch, and Account Aggregator solutions, reinforcing its position as a scalable fintech infrastructure provider.

Pine Labs is a leading Indian merchant fintech platform founded in 1998, providing cloud-based POS solutions, payment processing, and EMI services to retailers and enterprises. Serving clients in India, Southeast Asia, and the UAE, it powers over $100 billion in annual transaction volume.

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