Operational revenue increased 24% to Rs 806.2 crore, bolstered by a 52% expansion in core gross transaction value and a 77% surge in UPI processing. The digital commerce platform network broadened to 22.3 lakh merchants, supported by an upcoming rollout of 10 lakh QR soundboxes across diverse retail locations. Meanwhile, international markets generated 15% of overall quarterly revenue as daily UAE transactions crossed 1 lakh. Looking forward to FY28, the company aims to process up to Rs 35,000 crore in average monthly UPI gross transaction value.
Key points
Merchant base expansion and issuing growth are successfully translating high transaction…: Merchant base expansion and issuing growth are successfully translating high transaction volumes into substantial bottom-line profitability.
Ongoing physical soundbox deployments aim to deepen merchant retention and capitalize on…: Ongoing physical soundbox deployments aim to deepen merchant retention and capitalize on rapid UPI transaction momentum.
Management is positioning the business for sustained scalability through global market pe…: Management is positioning the business for sustained scalability through global market penetration and internal development automation.
Sources checked by our analysis pipeline: 1
The stock pared some gains subsequently but continued to trade in the green. At 2:26 pm, shares of Pine Labs were trading at Rs 165.93, up 5.25% from the previous close of Rs 162.60 on the NSE.
Pine Labs Q2 results
Pine Labs reported a net profit of Rs 38.6 crore in Q2FY27, compared to Rs 6 crore in the year-ago period, marking a more than sixfold increase in profitability.Revenue from operations rose 24% year-on-year to Rs 806.2 crore, compared with Rs 650 crore in the corresponding quarter last fiscal.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 67.3% to Rs 126 crore from Rs 75.3 crore a year earlier. The EBITDA margin expanded to 15.6% from 11.6% in the year-ago quarter.
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Payments and issuing businesses drive growth
Pine Labs reported growth across its merchant acceptance and issuing businesses during the quarter, supported by higher transaction volumes, expansion in its merchant base and increased traction across newer product categories.The company's digital commerce platform (DCP)…
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