Pine Labs delivered strong topline growth

Pine Labs delivered strong topline growth in Q1 FY27, with revenue from operations rising 19.6% YoY to ₹736.9 crore and net profit jumping more than four-fold to ₹19.6 crore. EBITDA increased 51% to about ₹124 crore, although adjusted EBITDA margin declined to around 17% from 20%, indicating some pressure on profitability despite strong revenue growth. The business is seeing healthy transaction growth. Platform GTV reached around ₹4.22 lakh crore, with 2.01 billion transactions, while digital checkout points increased 18% to 2.17 million and the merchant base reached around 11.5 lakh. UPI-related GTV grew more than 80%, highlighting the company's exposure to India's rapidly expanding digital-payments ecosystem. Another positive is international expansion: international revenue was around ₹114 crore, or 15.5% of Q1 revenue, with operations across 22 countries. The issuing and acquiring platform also grew 31% YoY to ₹237.8 crore. Pine Labs has additionally been investing in AI and newer payment technologies, including its work around agentic payments on UPI, which could become a longer-term growth opportunity.