New Delhi, July 28 (IANS) Fintech company Pine Labs on Tuesday reported a 67 per cent quarter-on-quarter decline in its consolidated net profit to Rs 19.57 crore for the first quarter of FY27, even as revenue from operations registered sequential growth.
The company had reported a consolidated net profit of Rs 59.36 crore in the January-March quarter of FY26.
However, on a year-on-year basis, the company’s net profit rose more than fourfold from Rs 4.79 crore in the corresponding quarter of the previous fiscal, supported by strong growth in income.
Revenue from operations rose to Rs 736.92 crore during the April-June quarter from Rs 700.51 crore in the preceding quarter. On a year-on-year basis, revenue increased from Rs 615.91 crore.
Total income stood at Rs 765.87 crore during the quarter under review, compared with Rs 741.44 crore in the previous quarter and Rs 653.08 crore in the corresponding quarter last year.
Total expenses increased to Rs 728.14 crore during the quarter from Rs 681.92 crore in the preceding quarter and Rs 657.86 crore a year earlier.
Profit before tax (PBT) came in at Rs 31.73 crore for the April-June quarter, down from Rs 68.41 crore in the previous quarter but higher than Rs 4.84 crore reported in the year-ago period.
The company reported a tax expense of Rs 12.16 crore during the quarter, resulting in a consolidated net profit of Rs 19.57 crore.
Shares of Pine Labs settled 1.18 per cent higher at Rs 153 apiece on the BSE on Tuesday.
Despite Tuesday’s gains, the stock has remained under pressure across most time frames since its listing in November 2025, underperforming the benchmark Sensex.
The stock has plunged 25.58 per cent over the past three months, 33.61 per cent over the past six months and 34.95 per cent so far this year, compared with declines of 0.16 per cent, 6.77 per cent and 9.89 per cent, respectively in Sensex.
–IANS
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