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Pine Labs delivers back-to-back profitable quarters

EntrackrEntrackr · 12d ago
Pine Labs delivers back-to-back profitable quarters
Medial

Pine Labs announced its financial results for Q2 FY26 after debuting on Indian stock exchanges earlier last month. The firm’s revenue increased by 18% during the second quarter, while the firm remained profitable in the same period. The company’s revenue from operations increased to Rs 650 crore in Q2 FY26 from Rs 551 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 23 crore, which drove its total income of Rs 673 crore for the quarter. However, for the six-month period ending September 2025, the firm’s revenue increased 18% to Rs 1,266 crore in H1 FY26 from Rs 1,074 crore in H1 FY25. On the expense side, employee benefit was the largest cost centre, which accounted for 40% of the total expense. This cost increased by 4% to Rs 268 crore in Q2 FY26 from Rs 258 crore in Q2 FY25. Cost of material rose 4% to Rs 81 crore in Q2 FY26 from Rs 78 crore in Q2 FY25. Finance cost, depreciation cost were other overheads which led to the total expense increasing by 8% to Rs 662 crore in Q2 FY26. Pine Labs sustained its profitability on the back of steady growth and disciplined cost control, reporting a net profit of Rs 6 crore in Q2 FY26 versus a loss of Rs 32 crore in Q2 FY25. For the half-year period, the company posted a profit of Rs 11 crore in H1 FY26, a marked improvement from the Rs 60 crore loss recorded in H1 FY25. The company also secured three key licences from the RBI, for payment aggregation, payment gateway operations, and cross-border payments, covering both offline and online merchant transactions. These approvals allow Pine Labs to process domestic and international payments, manage settlements, and further expand its merchant network across sectors. The IPO, which closed on November 11, raised around Rs 3,900 crore, comprising a mix of fresh issuance and an offer for sale by existing shareholders. While institutional investors drove the bulk of the demand, retail participation remained modest. Pine Labs made a positive debut on the public markets, listing at a 9.5% premium over its issue price. The stock opened at Rs 242 per share against the IPO price of Rs 221, giving the Peak XV-backed firm a stable start on the NSE and BSE. At the end of today’s trading period, the company’s share traded at Rs 247, giving it a market capitalization of Rs 28,360 crore (approx $3 billion).

Pine Labs rewards CEO Amrish Rau with Rs 243 Cr ESOPs ahead of market debut

EntrackrEntrackr · 1m ago
Pine Labs rewards CEO Amrish Rau with Rs 243 Cr ESOPs ahead of market debut
Medial

url: https://entrackr.com/news/pine-labs-rewards-ceo-amrish-rau-with-rs-243-cr-esops-ahead-of-market-debut-10617990. Content: Pine Labs has filed its RHP for a Rs 3,900 crore IPO. In the past four months, it added ESOPs worth Rs 564.75 crore, including Rs 243 crore granted to CEO Amrish Rau. Merchant payments and lending platform Pine Labs has filed its RHP for a Rs 3,900 crore IPO. In the past four months, the company added ESOPs worth Rs 564.75 crore, with a large portion valued at Rs 243 crore granted to their Chief Executive Officer, Amrish Rau. According to its RHP, Pine Labs had an ESOP pool of 6.15 crore options valued at Rs 1,360 crore as of June 30, 2025. Over the following four months (July 1 to November 1), the company granted an additional 2.55 crore options, expanding the total pool to 8.7 crore. Of these, 2.75 crore options were exercised and converted into equity shares at exercise prices ranging from Rs 5.4 to Rs 156. Some options were forfeited or lapsed during the period, leaving Pine Labs with 5.89 crore as a total outstanding ESOP options valued at around Rs 1,300 crore ($148 million). Of the 2.55 crore options granted in the past four months, 1.1 crore were allotted to CEO Amrish Rau, with the remainder going to other key managerial personnel. According to the red herring prospectus, before June 2025, Rau had already had 2.31 crore options, bringing his total to 3.41 crore worth Rs 755.6 crore. Pine Labs’ Rs 3,900 crore IPO includes a fresh issue of equity shares worth Rs 2,080 crore and an offer for sale (OFS) of up to 8.23 crore shares valued at Rs 1,820 crore by existing shareholders. In the OFS, early backer Peak XV is set to receive around Rs 508.4 crore, earning a return of nearly 40x on its investment. Other shareholders, including Madison India, Sofina Ventures, Temasek, PayPal, Mastercard, Invesco, and Lone Cascade, will also participate in the share sale. Pine Labs recorded a 28.5% year-on-year rise in revenue to Rs 2,274 crore in FY25, up from Rs 1,769 crore in FY24, while its net loss narrowed by 57% to Rs 145 crore. Notably, the company turned profitable in the first quarter of FY26, reporting a net profit of Rs 4.7 crore on revenue of Rs 616 crore.

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