Entrackr

Fintech major Pine Labs has announced its financial results for the first quarter of the fiscal year ending March 2027. The company reported a 20% year-on-year growth in operating scale, while its profits jumped 4X to Rs 20 crore during the period.

Pine Labs' revenue from operations grew to Rs 737 crore in Q1 FY27 from Rs 616 crore in Q1 FY26, according to its financial statements sourced from the National Stock Exchange (NSE).

Revenue from its digital infrastructure and transaction platform was the largest contributor, which grew 14.9% to Rs 499.12 crore in Q1 FY27. Its issuing and acquiring platform grew by 31% to Rs 237.8 crore during the same period.

The company added Rs 29 crore from non-operating activities, taking its total income to Rs 766 crore in Q1 FY27, compared to Rs 653 crore in the corresponding quarter last year.

On a sequential basis, the Bengaluru-based firm's revenue increased marginally by 5% compared to Rs 701 crore in Q4 FY26.

Employee benefits remained the largest cost centre for Pine Labs, accounting for 36.8% of its overall expenditure. Interestingly, this cost declined 7.9% to Rs 268 crore in Q1 FY27 from Rs 291 crore in Q1 FY26.

The cost of materials consumed increased 39% to Rs 107 crore, while transaction and related costs surged 61.7% to Rs 97 crore. Depreciation rose 12.3% to Rs 73 crore, whereas other expenses increased 10.9% to Rs 183 crore during the quarter. Overall, the company's total expenditure increased 10.6% to Rs 728 crore in Q1 FY27 from Rs 658 crore in Q1 FY26.

The faster growth in revenue compared to expenses helped Pine Labs to zoom its profit by fourfold to Rs 20 crore in Q1 FY27 from Rs 5 crore in Q1 FY26.

On a unit level, Pine Labs spent Rs 0.99 to earn a rupee of operating revenue during Q1 FY27, compared to Rs 1.07 in the year-ago quarter.