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Pine Labs-owned Setu to acquire 100% stake in Agya Technologies

EntrackrEntrackr · 20d ago
Pine Labs-owned Setu to acquire 100% stake in Agya Technologies
Medial

Pine Labs-owned Setu to acquire 100% stake in Agya Technologies Fintech unicorn Pine Labs plans to fully consolidate its ownership in RBI-licensed account aggregator Agya Technologies through its fintech infrastructure arm, Setu. According to a regulatory filing, the RBI has approved Setu (BrokenTusk Technologies Pvt Ltd) to increase its stake to 100% in Agya Technologies Pvt Ltd, which until now has operated as an associate company of Setu. Pine Labs already has around 25% stake in Agya Technologies and the company plans to complete the acquisition of the remaining stake in the near term, potentially in one or more tranches, according to the filing. This development follows Pine Labs' successful acquisition of all three digital payment licences from the Reserve Bank of India (RBI). These licences cover offline payments, online merchant payments, and cross-border transactions, enabling the company to offer a complete range of digital payment services across all merchant interaction points. On the financial front, Pine Labs’ revenue increased to Rs 650 crore in Q2 FY26 from Rs 551 crore in the same quarter last year. Pine Labs reported a net profit of Rs 6 crore in Q2 FY26 versus a loss of Rs 32 crore in Q2 FY25. 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. The company’s share is trading at Rs 240.85, giving it a market capitalization of Rs 26,406 crore (approx $2.9 billion).

Pine Labs posts Rs 42 Cr profit in Q3 FY26; revenue grows 24%

EntrackrEntrackr · 12d ago
Pine Labs posts Rs 42 Cr profit in Q3 FY26; revenue grows 24%
Medial

Fintech major Pine Labs announced its financial results for Q3 FY26 after debuting on Indian stock exchanges in the same quarter. The firm’s revenue increased by 24% during the third quarter, while it remained profitable in the same period. The company’s revenue from operations increased to Rs 744 crore in Q3 FY26 from Rs 601 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 36 crore, which drove its total income to Rs 780 crore for the quarter. For the nine-month period ending December 2025, the firm’s revenue increased 20% to Rs 2,010 crore from Rs 1,676 crore, a year earlier. On the expense side, employee benefit was the largest cost centre, which accounted for 37% of the total expense. This cost increased by 5% to Rs 263 crore in Q3 FY26 from Rs 251 crore in Q3 FY25. Cost of material rose 51% to Rs 104 crore in Q3 FY26 from Rs 69 crore in Q3 FY25. Finance cost and depreciation cost were other overheads which led to the total expense to increase by 13% to Rs 705 crore in Q3 FY26. Pine Labs entered profitability on the back of steady growth and disciplined cost control, reporting a net profit of Rs 42 crore in Q3 FY26 versus a loss of Rs 57 crore in Q3 FY25. For the nine-month period, the company posted a profit of Rs 53 crore. 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. Earlier this month, Pine Labs received RBI approval to fully acquire RBI-licensed account aggregator Agya Technologies, increasing its stake to 100% from its previous associate company status. The company’s share is trading at Rs 233, giving it a market capitalization of Rs 26,736 crore (approximately $2.9 billion).

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