PINELABS Pine Labs Q2 FY26 results (Jul–Sep 2025) and concall
Pine Labs delivered a strong Q2 FY26, characterized by significant operating leverage and a successful transition toward a software-led, asset-light business model. The company achieved record net revenues and its second consecutive profitable quarter, driven by high-margin value-added services (VAS) and international expansion. Management highlighted a disciplined approach to costs, with employee and ESOP expenses declining as a percentage of revenue while scaling transaction volumes.
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What they filed
Q2 FY26: revenue up 15.4%, net profit up 86.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|
| Revenue | 377 | 602 | 416 | 427 | 435 +15% |
| EBITDA | 15 | 77 | 51 | 38 | 41 +173% |
| Net profit | -15 | -57 | 38 | 28 | -2 +87% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
