Pine Labs Profit Surges 6.5x Amidst Robust Revenue Growth

Pine Labs experienced a remarkable financial quarter, reporting a 6.5-fold increase in net profit for Q2 FY27, reaching Rs 38.6 crore. This substantial profit growth was supported by a 24% year-on-year revenue increase, which amounted to Rs 806 crore for the period.

The company's online payments sector demonstrated strong momentum, with a year-on-year growth exceeding 45%. This expansion was propelled by significant increases in gross transaction value, fueled by advances in agentic commerce and cross-border payments.

Internationally, Pine Labs' business continues to expand across more than 22 markets. Revenue from Southeast Asia grew by approximately 40% compared to the previous year. The UAE operations also showed significant progress, surpassing one lakh daily transactions.

Internally, Pine Labs is heavily integrating AI, with AI agents now contributing to roughly 89% of all code changes. The company plans to allocate the efficiency gains derived from this technological adoption towards developing new products and entering new markets.

Looking ahead, Pine Labs aims to strengthen its position as a key commerce infrastructure provider for the global south. CEO Amrish Rau expressed optimism about widening opportunities, citing new products and significant commitments like one million soundboxes.