Fintech major Pine Labs delivered a strong financial performance in Q3 FY26, posting steady revenue growth and returning to profitability in the quarter following its listing on Indian stock exchanges, according to media reports.
During the quarter, revenue from operations rose 24 percent year-on-year to Rs 744 crore, compared with Rs 601 crore in the corresponding quarter last year, as per financial statements sourced from the National Stock Exchange (NSE). In addition, other income contributed Rs 36 crore, which pushed the company’s total income for the quarter to Rs 780 crore.
Meanwhile, for the nine-month period ending December 2025, Pine Labs reported continued momentum across its payments and fintech offerings. Revenue for the period increased 20 percent to Rs 2,010 crore, up from Rs 1,676 crore a year earlier, reflecting sustained demand across its core business lines.
On the expenditure front, employee benefits remained the company’s largest cost component, accounting for 37 percent of total expenses. Employee-related costs increased 5 percent to Rs 263 crore from Rs 251 crore in Q3 FY25. At the same time, the cost of materials surged 51 percent to Rs 104 crore, while finance costs and depreciation also added to overall spending. As a result, total expenses for the quarter grew 13 percent to Rs 705 crore.
Despite the rise in costs, Pine Labs successfully returned to the black during the quarter. The company reported a net profit of Rs 42 crore in Q3 FY26, reversing a loss of Rs 57 crore recorded in Q3 FY25. Furthermore, for the nine-month period, Pine Labs posted a profit of Rs 53 crore, supported by disciplined cost control and consistent revenue expansion.
In the capital markets, Pine Labs made a strong debut following its public listing. The stock listed at a 9.5 percent premium over its issue price, opening at Rs 242 per share against an IPO price of Rs 221.
Additionally, earlier this month, Pine Labs secured Reserve Bank of India (RBI) approval to fully acquire Agya Technologies, an account aggregator, thereby increasing its stake to 100 percent. At the time of reporting, Pine Labs shares were trading at Rs 233, valuing the company at approximately Rs 26,736 crore, or around USD 2.9 billion.
Overall, Pine Labs’ Q3 FY26 performance highlights a successful return to profitability backed by strong revenue growth, prudent cost management, and expanding fintech operations. With a positive stock market debut, strategic acquisitions, and sustained business momentum, the company appears well positioned to strengthen its leadership in India’s rapidly evolving fintech ecosystem.
