Pine Labs posts Rs 42 crore profit in December quarter; revenue rises 23% to Rs 744 crore

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Digital payments firm Pine Labs reported a net profit of Rs 42 crore in the December quarter of the current financial year, reversing a loss of Rs 58 crore in the year-ago period.

Operating revenue rose 23% to Rs 744 crore from Rs 601 crore a year earlier, driven by higher digital transaction volumes, value-added services linked to card payments, and affordability products. Growth in overseas markets also helped diversify revenue streams.

Expenses grew at a slower pace of 13% to Rs 704 crore, compared with Rs 622 crore last year. Employee costs rose…



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Pine Labs posts Rs 42 crore profit in December quarter; revenue rises 23% to Rs 744 crore



Digital payments firm Pine Labs reported a net profit of Rs 42 crore in the December quarter of the current financial year, reversing a loss of Rs 58 crore in the year-ago period.

Operating revenue rose 23% to Rs 744 crore from Rs 601 crore a year earlier, driven by higher digital transaction volumes, value-added services linked to card payments, and affordability products. Growth in overseas markets also helped diversify revenue streams.

Expenses grew at a slower pace of 13% to Rs 704 crore, compared with Rs 622 crore last year. Employee costs rose…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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