Pine Labs Q2 net profit jumps over sixfold to $4.1m
Pine Labs said revenue from Southeast Asia rose about 40% year on year.
FinTech firm Pine Labs announced a remarkable surge in net profit for Q2 of FY27, reportedly increasing six and a half times to Rs 38.6 crore. Revenue for the same period saw a 24% rise year-on-year, reaching Rs 806 crore. This growth primarily stems from the company's online payments business, which expanded across various segments, including agentic commerce, cross-border payments, small and medium businesses, and government sectors.
Notably, AI agents contributed to 89% of recent code changes, highlighting Pine Labs' commitment to integrating AI technology. The company intends to reinvest these efficiency gains into new products, geographical expansion, and categories, while maintaining a robust EBITDA profile. Its international operations span more than 22 markets, with significant growth in Southeast Asia (40% YoY) and the UAE (crossing one lakh daily transactions).
On the corporate front, IT services giant Cognizant trimmed its growth outlook for 2026. Despite reporting a net profit that more than doubled in the third quarter of 2026, revenue grew by 4.6% compared to the same period last year. This comes as the financial services segment expanded by 12.3%, and communications, media & technology increased by 10.7%.
However, there was a slight decline in products and resources (-0.8%) and healthcare (-0.9%). North America saw a 5.8% growth, followed by Europe at 2.2% and the rest of the world at 1.4%. In response to these challenges, Cognizant revised its annual revenue growth guidance from 4-5.5% to 4-4.4%.
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