Pine Labs appoints former Razorpay executive Jayaram Karthik as COO

Karthik will lead operations and merchant experiences across India and international markets as Pine Labs looks to build a unified operational model globally

Pine Labs appointed former Razorpay executive Jayaram Karthik as the company’s chief operations officer (COO) on Wednesday.

 

The company said he will lead operations and merchant experiences across India and international markets. He brings over 25 years of experience across operations, risk, analytics, and technology.

 

“Today, Pine Labs operates across more than 20 countries and building a unified operational excellence model is now central to how we scale that footprint. Jayaram's deep expertise in streamlining complex operating processes for high-growth businesses will help us strengthen the foundation required for our next phase of global growth,” said B Amrish Rau, chief executive officer (CEO), Pine Labs.

 

 

Jayaram has previously worked with American Express, Citibank, Amazon, Tata and Razorpay.

 

“Pine Labs has built an impressive global business, and I look forward to helping scale the operational foundation that will enable the company to grow faster, standardization to serve customers better and build lasting trust across markets,” Jayaram said.

 

Pine Labs reported a fourfold jump in consolidated net profit for the first quarter of financial year 2027 (Q1FY27), at ₹19.57 crore, against ₹4.79 crore a year earlier (Q1FY26).

 

However, on a quarter-on-quarter basis, the company saw its profit decline 67 per cent from ₹59.36 crore in Q4FY26.

 

Pine Labs said its effective tax rate for the quarter was higher at 48 per cent, resulting in a lower flow-through from pre-tax profit to net profit. The company expects the rate to taper to 28-30 per cent for the full year FY27, and to normalise to around 25-26 per cent from FY28.