JKB Financial Services Ltd.

As on : 04-Dec-2025

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04-Dec-2025 10:23

Pine Labs records profit of Rs 6 crore in Q2; EBITDA margin rises to 19%

Revenue from operations grew 18% YoY to Rs 650 crore, on the back of robust growth of issuing, affordability and online payments businesses, which continue to outpace growth in the in-store payments business, in line with the company's growth strategies.

Pine Labs' platform GTV grew 92% YoY to Rs 424 thousand crore while the number of transactions jumped 44% YoY to 1.9 billion in Q2 FY26.

The company further said that it continued to strengthen its presence in international markets, with 17% of Q2 FY26 revenue coming from overseas operations, up from 15% in Q2 FY25.

Contribution margin grew 21% YoY to Rs 497 crore in the September'25 quarter.

Adjusted EBITDA grew 62% to Rs 122 crore in Q2 FY26, with margin expanding from 14% to 19% driven by higher margin businesses growing faster, complemented with disciplined employee cost control.

Excluding early settlement, the company generated a positive cash flow of Rs 241 crore in Q2 FY26. Including early settlement, the figure stood at Rs 152 crore.

Pine Labs is a technology company focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.

The scrip rose 0.75% to currently trade at Rs 249.45 on the BSE.

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