Pine Labs Turns Profitable in FY26 as GTV Grows 50%

Indian fintech heavyweight Pine Labs is one of the country’s leading merchant payment platforms and has long competed for market share in the fiercely contested digital payments sector. As the Indian government advances its cashless agenda, the platform’s ability to turn its vast transaction volumes into profit has remained a key focus for the fintech industry and investors. It is also an important measure of the viability of India’s digital finance business models.

According to newly disclosed financial data, Pine Labs reversed its previous losses in fiscal 2026 and posted profit after tax of 1.13 billion Indian rupees. The turnaround was driven primarily by a strong 50% increase in gross transaction value, or GTV. The performance demonstrated the strong revenue-generating power of its merchant services and showed that the platform’s operating efficiency and profitability had improved significantly.