Pine Labs swings to profit in Q3; labour code hit at ₹23 crore

Pine Labs reported a strong set of numbers for the December quarter. The fintech firm also disclosed a one-time impact of ₹23 crore due to the implementation of the new labour code during the quarter.

For the third quarter, Pine Labs reported a net profit of ₹42.4 crore, reversing a loss of ₹56.7 crore recorded in the corresponding quarter last year.



Revenue for the quarter rose 23.7% year on year to ₹744 crore, compared with ₹602 crore in the same period last year. Operating performance improved, with EBITDA surging 70% year on year to ₹131.5 crore from ₹77 crore a year ago.

As a result, EBITDA margins expanded sharply to 17.7% in the December quarter, up from 12.8% in the year-ago period.

During the quarter, Pine Labs processed its highest-ever quarterly Gross Transaction Value (GTV) of $51billion on its platform.

Q3 reported operating cash flow of ₹124 crore (excluding early settlement) and ₹152 crore, including early settlement. The quarterly movement in working capital is driven by festive demand/higher transaction volumes in Q3, which is expected to normalise in the coming quarter.

Following the earnings announcement, shares of Pine Labs Ltd. are trading 0.083% higher at

₹

228.90. The stock is down 3% so far in 2026.