Pine Labs Reports First Quarterly Profit of ₹4.8 Crore in Q1 FY26; IPO Opens Nov 7

Pine Labs, a leading digital payments and merchant commerce platform, has reported its first-ever quarterly net profit of ₹4.8 crore in the first quarter of FY26, driven by strong growth in operating revenue and improved cost efficiencies. The milestone marks a major turnaround for the company as it heads toward its much-anticipated initial public offering (IPO).

According to financial details shared in its red herring prospectus, the company’s Q1 FY26 revenue stood at ₹615 crore, registering a year-on-year growth of 17.8%. The consistent performance in its core business and steady transaction volumes contributed to the profitability milestone.

Robust FY25 Performance

For the full financial year FY25, Pine Labs reported operating revenue of ₹2,274 crore, a 28.5% increase from ₹1,769 crore in FY24. The company also narrowed its net loss to ₹145 crore in FY25, down 57.4% from ₹341 crore in FY24, demonstrating significant financial improvement.

Pine Labs’ adjusted EBITDA (excluding ESOP costs) grew strongly to ₹356 crore in FY25 from ₹158 crore in FY24, highlighting enhanced operational efficiency and disciplined financial management. The company has disclosed these improved metrics in the final prospectus filed with market regulators.

Pine Labs IPO Details

Pine Labs’ ₹3,899.91 crore IPO will open for subscription on November 7, 2025, and close on November 11, 2025. The issue comprises a fresh issue of 9.41 crore shares worth ₹2,080 crore and an offer for sale (OFS) of 8.23 crore shares totalling ₹1,819.91 crore.

Pine Labs IPO price band has been set at ₹210 to ₹221 per share. The allotment is expected on November 12, 2025, and the company’s shares will list on the BSE and NSE on November 14, 2025. 

Expanding Business Operations

The company continues to strengthen its business ecosystem, expanding partnerships with 198 financial institutions and powering around 690 consumer brands. In FY25, Pine Labs processed 5.7 billion transactions across 954,000 merchants. In Q1 FY26 alone, the company achieved a gross transaction value (GTV) of $46 billion, translating to an annualised GTV of $185 billion.

Also Read: Upcoming IPOs This Week (November 3-7, 2025)!

Conclusion

Pine Labs’ first quarterly profit marks a key milestone in its growth journey, underscoring financial discipline, expanding partnerships, and consistent revenue growth as it prepares for one of the most anticipated fintech IPOs in India.

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