Pine Labs reports ₹423.9 million Q3FY26 profit as digital payments surge

Indian fintech firm Pine Labs reported a third straight ‍quarterly profit ​on Wednesday, supported by strong demand as more users shift to digital payments.

The company reported a profit of 423.9 million rupees ($4.6 million) for the quarter ended ​December 31, compared with a loss of 566.7 million rupees a year earlier.

Indian fintech firms have continued to benefit from strong growth in cashless transactions, rising merchant adoption and a renewed investor appetite.

Pine Labs has also been moving into overseas markets and targets long-term scale across its merchant commerce and digital infrastructure businesses.

The company's revenue grew ‌nearly 24 per cent on-year to 7.44 billion ​rupees, led by a 16.4 per cent climb in its biggest segment, digital infrastructure and transaction platform.

 

Pine Labs competes with ‍Paytm and Razorpay in India's fintech market, which is forecast to ‍grow to $769.5  billion ‌by 2031, ​from $106.2  billion in ‍2024, according to Persistence Market Research.