Fintech firm Pine Labs reported a consolidated net profit of ₹59.4 crore in the fourth quarter of FY26, reversing a loss of ₹28.9 crore in the same period last year, according to inc42.com. The company’s operating revenue rose 14.7% year-on-year to ₹700.5 crore, while adjusted EBITDA jumped 73% to ₹146 crore, marking its first profitable full fiscal year with a net profit of ₹112.5 crore for FY26.
Pine Labs’ revenue growth was driven by its digital infrastructure and transaction platform, which grew 14% year-on-year to ₹466.1 crore, and its issuing and acquiring platform vertical, which saw a 25% increase to ₹234.4 crore. Despite a 5.9% sequential dip in revenue from ₹744.3 crore, the company managed to improve profitability significantly. The quarter included an exceptional loss of ₹8.9 crore due to new labour codes. Pine Labs also secured multi-year contracts with India’s top three oil marketing companies to deploy and manage digital payments infrastructure at petrol pumps and merchant outlets, including a fleet loyalty program for IOCL.
This profitability turnaround is significant in the competitive Indian fintech sector, where Pine Labs has transitioned from losses to sustained profits. The company’s growth in digital payments infrastructure aligns with increasing demand for seamless payment solutions across retail and fuel sectors. The multi-year contracts with leading oil marketing companies highlight Pine Labs’ expanding footprint in strategic merchant segments, reinforcing its position in the payments ecosystem.
Looking ahead, Pine Labs plans to leverage these contracts to scale its digital payments infrastructure across India. The company’s focus on expanding its platform capabilities and merchant network will be critical to sustaining revenue growth and profitability. Market watchers will be keen to track Pine Labs’ performance in upcoming quarters as it consolidates gains from these landmark deals and navigates evolving regulatory frameworks.