Fintech firm Pine Labs Ltd. delivered exceptional financial results for Q2 FY27, with net profit surging over six-fold year-on-year to ₹39 crore, marking the fastest profit growth in recent quarters. According to latest reports, revenue increased 24% year-on-year to ₹806.2 crore, compared with ₹650 crore in the corresponding quarter last fiscal. The company's EBITDA rose 67.3% year-on-year to ₹126 crore, compared with ₹75.3 crore in Q2 FY26. EBITDA margin expanded significantly to 15.6% from 11.6% a year earlier, reflecting stronger operating performance alongside revenue growth. For the half-year period (H1 FY27), net profit jumped to ₹58 crore compared to ₹11 crore on a year-on-year basis, while revenue from operations reached ₹1,543 crore versus ₹1,266 crore in H1 FY26, marking a 22% increase.
The company demonstrated robust operational performance with daily transaction processing reaching approximately 25 million across all businesses, up around 22% year-on-year. As reported by The Economic Times, the digital commerce platform (DCP) base grew 17% year-on-year to 22.3 lakh, with the mid-market DCP base expanding 49% year-on-year. Pine Labs also highlighted that more than 70% of transactions on its digital commerce platform already run on UPI, while over 65% of UPI GTV comes from transactions with ticket sizes above ₹2,000. The company's online payments business recorded growth of more than 45% year-on-year, with GTV surging 140% as the business expanded into agentic commerce, cross-border, SMB, and government corridors. Gross transaction value (GTV) across Flow, Affordability and Transaction Processing grew 52% year-on-year, while UPI GTV increased more than 77%.
CEO Amrish Rau highlighted that Q2 was an all-round quarter with growth across acceptance and issuing, noting that 15% of revenues come from global markets and 14% from products launched only in the last two years. As reported by The Economic Times, the company operates across more than 22 markets with credit processing in over 17 markets, extending its Malaysia playbook to the UAE, the Philippines and Singapore. The company is targeting average monthly UPI GTV of around ₹34,000-35,000 crore in FY28, with an average transaction ticket size of approximately ₹1,400. Pine Labs is also planning to roll out 10 lakh QR soundboxes over the medium term to deepen its UPI acceptance network across retail and premium retail merchants. The company's confidence in sustaining growth momentum is anchored in multiple growth engines including merchant acquisition, deeper monetization of the installed base, newer products and use cases, and international expansion. Rau emphasized that the opportunity set in front of us is widening, not narrowing, pointing to new product launches, the planned soundbox rollout, agentic commerce and emerging UPI monetisation opportunities as key areas of focus.
Following the results announcement, Pine Labs shares climbed as much as 7% to hit an intraday high of ₹173.80 on the NSE on Thursday, demonstrating strong investor confidence in the company's performance. As of the latest trading session, shares were trading at ₹165.93, up 5.25% from the previous close of ₹162.60. The positive market reaction reflects investor optimism about the company's accelerated revenue growth and improved profitability metrics. Pine Labs has set ambitious targets, aiming for revenue growth of 21-23% and EBITDA margins of over 20% as it scales its commerce infrastructure platform. The company is also focusing on AI integration, with AI agents now contributing around 89% of code changes, while maintaining its strategy of building a larger commerce infrastructure platform across markets and categories while sustaining profitable growth over the long term.
