Shares of Pine Labs rose 2.24% to ₹166.24 on the NSE as the fintech firm announced a 24% YoY lift in revenue to ₹806.2 cr for the September quarter of FY27—its fastest growth in five quarters.
Net profit surged to ₹38.6 cr, a 572% jump from ₹6 cr a year earlier, while EBITDA climbed 67.3% YoY to ₹126 cr, up from ₹75.3 cr. The company’s EBITDA margin expanded to 15.6% from 11.6%, exceeding the 12% sector average.
CEO Amrish Rau highlighted growth across both acceptance and issuing businesses, noting that international markets now contribute 15% of revenue and products launched in the last two years account for 14%. The firm maintains its long‑standing EBITDA‑positive stance while balancing new product investments.
Pine Labs’ UPI footprint is significant: 70% of its digital commerce transactions are UPI‑led, with a monthly GTV of ₹20,000 cr growing at 68% CAGR. The company anticipates a lift to ₹33–34 cr monthly GTV in FY28 under the proposed 0.4% MDR cap for transactions above ₹2,000, foreseeing a high‑margin revenue stream.
Looking ahead, Pine Labs aims for 21‑23% revenue growth and >20% EBITDA margin in FY28, pending regulatory clarity on the UPI MDR framework. The firm’s distribution network and tech stack are ready to roll out once the final structure and timeline are announced.