According to the financials shared in its red herring prospectus filed Friday, the company posted a net profit of Rs 4.8 crore in the June quarter of FY26.
For FY25, Pine Labs reported operating revenue of Rs 2,274 crore, up 28.5% from Rs 1,769 crore in FY24. In the first quarter of FY26, revenue rose 17.8% year-on-year to Rs 615 crore.
While the Peak XV Partners-backed firm narrowed its losses sharply in FY25, it still posted a net full-year loss of Rs 145 crore, down 57.4% from Rs 341 crore in FY24. The company’s adjusted EBITDA (excluding ESOP costs) stood at Rs 356 crore in FY25, compared with Rs 158 crore in FY24 and Rs 196 crore in FY23.
In its draft prospectus filed in June, Pine Labs had disclosed numbers until September 2024. The final document includes financials up to the June 2025 quarter. The company plans to go public in the coming weeks and is expected to announce its IPO price band early next week, according to people aware of the matter.
It plans to issue fresh shares worth Rs 2,600 crore, along with an offer for sale (OFS) of 147.8 million shares. The firm is targeting a valuation of Rs 33,400–Rs 41,700 crore (approximately $4–5 billion), the people said. On the business front, Pine Labs expanded its partnerships to 198 financial institutions, powering around 690 consumer brands. In FY25, it processed 5.7 billion transactions across 954,000 merchants. In the June quarter, Pine Labs reported a gross transaction value (GTV) of Rs 3.83 lakh crore (around $46 billion), taking its annualised GTV to Rs 15.4 lakh crore (about $185 billion).