Pine Labs posted a consolidated net profit of Rs 6 crore for Q2FY26, reversing a loss of Rs 32 crore in the year-ago period and marking its first earnings release since debuting on the exchanges in November. The company also delivered a 25% sequential rise in profit after tax compared with Rs 5 crore in Q1FY26.
Revenue from operations climbed 18% year-on-year to Rs 650 crore from Rs 552 crore in the same quarter last year. On a sequential basis, topline improved nearly 6% from Rs 616 crore in the April–June quarter.
Adjusted EBITDA surged 62% year-on-year to Rs 122 crore, with margins widening from 14% to 19%. The company said the improvement reflects strong operating leverage, further evidenced by contribution margin growth of 21% year-on-year to Rs 497 crore. According to its filing, “Every Rs 100 incremental contribution margin drives Rs 50 – Rs 57 incremental adjusted EBITDA.”
Pine Labs generated an operating positive cash flow of Rs 241 crore (excluding early settlement) and Rs 152 crore including early settlement during the quarter.
The company continued to expand overseas, with 17% of Q2FY26 revenue coming from international markets, up from 15% in the year-ago quarter. It also processed its highest-ever quarterly Gross Transaction Value (GTV) of over $48 billion and crossed 1.0 million merchants on its platform.
Pine Labs was listed at a 13.52% premium at Rs 251 over its issue price. The stock is currently trading at Rs 246.98, up 11.76% over the issue price but below its debut level.
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