Pine Labs Reports First Full Year of Profit as Transaction Volumes Surge
Gurugram-based payments and commerce infrastructure company, Pine Labs, has announced its first profitable financial year with a profit after tax (PAT) of ₹113 crore for FY26. This marks a significant turnaround from the ₹145 crore loss in the previous year.
The company processed $194 billion in gross transaction value (GTV), representing 50% growth year-over-year. Daily transactions exceeded 20 million, with UPI volumes accelerating at 68%. Revenue from operations increased by 19% to ₹2,711 crore, while adjusted EBITDA expanded 57% to ₹559 crore.
Key Financial Highlights for FY26:
- Profit After Tax (PAT): ₹113 crore (vs. ₹145 crore loss in prior year)
- Gross Transaction Value (GTV): $194 billion (+50% YoY)
- Revenue from Operations: ₹2,711 crore (+19% YoY)
- Adjusted EBITDA: ₹559 crore (+57% YoY)
- Operating Cash Flow: ₹395 crore (eightfold increase YoY)
Strategic Drivers of Performance:
- Platform Depth: The gap between GTV and revenue growth indicates significant monetization potential as the company leverages its Commerce Operating System, which connects 2 million terminals, 450+ brands, and 177 financial institutions.
- Margin Expansion: A greater share of incremental contribution margin (now over ₹50 of every ₹100) is flowing through to adjusted EBITDA.
- AI Integration: Approximately 89% of code changes are now contributed by AI agents, indicating a structural shift in software development.
Pine Labs’ SignalIQ product converts UPI transaction data into credit underwriting signals for lenders, while partnerships with OpenAI have yielded agentic commerce solutions accessible through ChatGPT. The company aims to leverage AI-driven purchasing patterns to expand its addressable market.