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Pine Labs Expands in Sri Lanka; Deploys Credit+ Platform for Pan Asia Bank
Pine Labs has secured a strategic partnership with Pan Asia Bank, one of Sri Lanka's largest listed banks, to deploy its API-first 'Credit+' card management platform. This end-to-end solution will manage the entire credit card lifecycle, including issuance, billing, and settlement, replacing legacy systems. This marks Pine Labs' second major banking client win in Sri Lanka within a few months, demonstrating strong regional momentum. The deal highlights the company's successful pivot into high-margin fintech infrastructure services for financial institutions.
Key Highlights
Partnership with Pan Asia Bank, a leading listed financial entity in Sri Lanka
Deployment of 'Credit+' platform for end-to-end credit card issuance and processing
Second major banking client acquisition in the Sri Lankan market within a short timeframe
Cloud-native, API-first architecture enables real-time authorization and scalable configurations
Expansion strengthens Pine Labs' footprint across international markets including SE Asia and Middle East
💼 Action for Investors
Investors should monitor the growth of Pine Labs' high-margin SaaS infrastructure business as it diversifies beyond merchant payments. This international expansion validates the company's competitive edge in replacing legacy banking technology.
Pine Labs Q3 FY26: Revenue Grows 24% YoY to ₹744 Cr; Turns Profitable with ₹42 Cr PAT
Pine Labs reported a robust Q3 FY26 performance, achieving its highest-ever quarterly revenue of ₹744 Cr, a 24% YoY increase. The company successfully turned profitable with a Profit After Tax (PAT) of ₹42 Cr, compared to a loss of ₹57 Cr in the same period last year. Adjusted EBITDA surged 59% YoY to ₹171 Cr, with margins expanding by 500 bps to 23% due to strong operating leverage and disciplined cost management. The growth was primarily driven by the Issuing, Affordability, and Online payments segments, alongside a rising international revenue mix now at 15%.
Key Highlights
Revenue from operations increased 24% YoY to ₹744 Cr, supported by a 29% growth in Platform GTV to ₹4.5 lakh Cr.
Turned profitable with a PAT of ₹42 Cr; excluding an exceptional labor code charge, normalized PAT stood at ₹52 Cr.
Adjusted EBITDA margin expanded significantly to 23% from 18% YoY, demonstrating high flow-through from incremental margins.
Employee costs as a percentage of revenue improved to 31% from 42% YoY, reflecting enhanced operational efficiency.
International revenue contribution rose to 15%, fueled by expansion in Singapore, the Middle East, and Southeast Asia.
💼 Action for Investors
Investors should take note of the company's successful transition to profitability and significant margin expansion, which signals a maturing business model. The strong operating leverage and growing international footprint suggest a sustainable growth trajectory in the fintech infrastructure space.
Pine Labs Reports Q3 FY26 Standalone PAT of ₹56.63 Cr, Revenue Grows 26% QoQ
Pine Labs Limited delivered a strong performance in Q3 FY26, reporting a standalone profit after tax of ₹56.63 crore, a significant turnaround from a loss of ₹2.50 crore in the preceding quarter. Revenue from operations increased by 26% sequentially to ₹548.40 crore, up from ₹435.00 crore in Q2 FY26. For the nine-month period ended December 2025, the company turned profitable with a standalone PAT of ₹82.59 crore compared to a loss of ₹15.33 crore in the previous year. This growth is supported by a steady increase in total income, which reached ₹598.82 crore for the quarter.
Key Highlights
Standalone Revenue from Operations grew 26% QoQ to ₹548.40 crore from ₹435.00 crore.
Standalone PAT turned positive at ₹56.63 crore vs a loss of ₹2.50 crore in Q2 FY26.
Nine-month standalone profit reached ₹82.59 crore, reversing a ₹15.33 crore loss YoY.
Total standalone income for Q3 FY26 reached ₹598.82 crore, up from ₹456.17 crore in Q2.
Employee benefit expenses remained stable at ₹188.80 crore compared to ₹190.34 crore in the previous quarter.
💼 Action for Investors
The sharp turnaround in profitability and robust sequential revenue growth are positive indicators of operational efficiency. Investors should maintain a positive outlook while monitoring the performance of its 20 subsidiaries which currently report a combined net loss.
Pine Labs Q3 FY26 Standalone Net Profit Surges to ₹56.63 Cr; Revenue Up 26% QoQ
Pine Labs reported a strong financial performance for Q3 FY26, achieving a standalone net profit of ₹56.63 crore, a significant turnaround from a loss of ₹2.50 crore in the previous quarter. Revenue from operations grew by 26% sequentially to ₹548.40 crore, driven by increased transaction and related activities. On a year-on-year basis, the net profit saw a substantial jump from ₹15.33 crore in Q3 FY25. While standalone operations are robust, the consolidated entity remains slightly impacted by subsidiaries which contributed a net loss of ₹9.23 crore for the quarter.
Key Highlights
Standalone Revenue from operations increased to ₹548.40 crore in Q3 FY26 from ₹435.00 crore in Q2 FY26.
Net Profit for the quarter stood at ₹56.63 crore, compared to ₹15.33 crore in the same quarter last year.
The company successfully turned around from a standalone loss of ₹2.50 crore in the preceding quarter.
Nine-month (9M FY26) standalone revenue reached ₹1,410.67 crore, up from ₹1,181.60 crore in 9M FY25.
An exceptional item expense of ₹10.82 crore was recorded during the quarter, yet the company maintained strong profitability.
💼 Action for Investors
The strong sequential growth and turnaround to profitability on a standalone basis are positive indicators of operational scaling. Investors should monitor the performance of global subsidiaries to see if consolidated losses narrow in upcoming quarters.
Pine Labs Partners with UAE's Wio Bank to Modernize Merchant Acquiring Infrastructure
Pine Labs has entered a strategic partnership with Wio Bank, the Middle East's leading digital financial platform, to deploy its 'Credit+' modular acquiring platform. This collaboration will modernize Wio Bank's infrastructure, enabling faster merchant onboarding and real-time settlement capabilities without legacy tech dependencies. The partnership leverages Pine Labs' API-first, cloud-native architecture to scale acquiring volumes in the high-growth UAE market. This move reinforces Pine Labs' international expansion strategy and validates its fintech stack among major global financial institutions.
Key Highlights
Wio Bank to deploy Pine Labs' 'Credit+' modular, API-first platform for core acquiring operations.
Partnership enables real-time settlement and seamless multi-mode payment acceptance for UAE merchants.
Wio Bank is backed by major UAE strategic investors including ADQ, Alpha Dhabi, e&, and First Abu Dhabi Bank (FAB).
The collaboration targets the UAE's rapid transition toward a cashless economy through cloud-native microservices.
Pine Labs continues to expand its global footprint across Malaysia, Philippines, UAE, Singapore, and the USA.
💼 Action for Investors
Investors should view this as a positive validation of Pine Labs' technology export capabilities and its ability to secure high-profile banking partners internationally. Monitor for future revenue contributions from the Middle East and Africa (MEA) segment as these digital-first partnerships scale.