Pine Labs shares advance 4% on multi-year contracts from three OMCs
Pine Labs secured multi-year contracts from three leading Indian OMCs -- BPCL, HPCL and IOCL -- for nationwide digital payments platform modernisation
 "Pine Labs shares advance 4% on multi-year contracts from three OMCs")
Shares of Pine Labs Ltd. rose over 4 per cent on Monday after the company landed multi-year contracts from three domestic Oil Marketing Companies (OMCs) for digital payments infrastructure.
The company's stock rose as much as 4.09 per cent during the day to ₹210.3 per share, the biggest intraday gain since January 28 this year. The stock pared gains to trade 2.8 per cent higher at ₹207.7 apiece, compared to a 0.45 per cent advance in Nifty 50 as of 12:45 PM.
Shares of the company are down for the third straight month and currently trade at 1.7 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 12.6 per cent this year, compared to a 1.2 per cent decline in the benchmark Nifty 50. Pine Labs has a total market capitalisation of ₹23,947.30 crore.
Pine Labs wins multi-year contracts from OMCs
Pine Labs secured multi-year contracts from three leading Indian OMCs, Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL) and Indian Oil Corporation Ltd. (IOCL), for nationwide digital payments platform modernisation.
Under the agreements, Pine Labs will deploy, manage and maintain digital payments infrastructure at petrol pumps and merchant outlets across India, the company said in the statement. The contracts will involve the rollout and servicing of nearly 1,30,000 digital payment acceptance devices across the country.
The company said the mandate will leverage its expertise in managing payment rails to enable faster, secure and seamless transactions at the point of sale. The partnership underscores the commitment of the public sector oil marketing companies and Pine Labs to enhance customer experience through secure, frictionless digital payments and loyalty solutions, the company said.
Amrish Rau, chief executive officer of Pine Labs, said the company's software-first approach will enable quicker product feature rollouts, minimal on-site intervention and a unified payments, rewards and loyalty platform to accelerate digitisation in fuel retail commerce.
Pine Labs Q3 results
The company reported a consolidated net profit of ₹42.4 crore in the third quarter of the financial year 2025-26 (Q3FY26). In comparison, the company posted a net loss of ₹56.67 crore in Q3FY25. Sequentially, net profit grew sevenfold from ₹5.97 crore in Q2FY26.
Pine Labs’ revenue from operations grew 23.7 per cent to ₹744.27 crore in Q3FY26 from ₹601.64 crore in Q3FY25. Sequentially, it grew 14.52 per cent from ₹649.90 crore in Q2FY26. For Pine Labs, employee benefits emerged as the largest form of expenses, contributing over one-third, or 37.35 per cent, of total expenses. In Q3FY25, this was 40.4 per cent.