Pine Labs reported its first full year of profitability in FY26, marking a major milestone for the fintech major as it scaled payments, commerce infrastructure and AI-led offerings across India and international markets.

The company posted a profit after tax (PAT) of ₹113 crore in FY26, compared to a loss of ₹145 crore in the previous year, while Q4 FY26 delivered a record quarterly PAT of ₹59 crore. Operating cash flows for the year rose eightfold year-on-year to ₹395 crore, with the March quarter alone contributing ₹76 crore — the highest quarterly operating cash flow in the company’s history.

Revenue for FY26 grew 19 per cent year-on-year to ₹2,711 crore, while adjusted EBITDA rose 57 per cent to ₹559 crore. EBITDA margins expanded to 21 per cent from 16 per cent a year ago.

The company processed $194 billion in gross transaction value (GTV) during FY26, up 50 per cent year-on-year, while UPI volumes surged 68 per cent. Pine Labs said its platform now enables more than 20 million daily transactions.

“These numbers tell us we are winning transactions, winning merchants and winning in new markets,” said Amrish Rau, CEO. “When GTV grows at 50 per cent while revenue grows at 19 per cent, it reflects the platform depth we have built — and it leaves significant monetisation headroom ahead of us,” he added.

Pine Labs said it has increasingly evolved from a payments company into a broader commerce infrastructure platform, with 2 million terminals, over 450 brands and 177 financial institutions operating on its network.

AI-led push

The company is also deepening its AI-led push. It said nearly 89 per cent of its code changes are now contributed by AI agents, as it looks to integrate AI across underwriting, merchant services and commerce infrastructure.

Its AI-driven credit intelligence platform, SignalIQ, is already live with banks and fintech firms, using UPI transaction data to improve underwriting capabilities. Pine Labs has also partnered with OpenAI to build agentic commerce solutions, with its commerce suite already live on ChatGPT.

International operations also emerged as a key growth driver. Overseas revenue crossed ₹400 crore in FY26 and now contributes around 15 per cent of total revenue, up from 9 per cent three years ago. The company currently operates across 22 countries, with recent partnerships spanning Southeast Asia, the Middle East and the US market.

“We are building the infrastructure layer that merchants, financial institutions and brands will rely on to grow — in India and across the Global South,” Rau said.

Published on May 25, 2026