Pine Labs Profit Jumps Sixfold on Digital Boom
Pine Labs reported a more than sixfold jump in second-quarter profit as rising adoption of digital payment services in India lifted demand. Consolidated profit rose to 385.7 million rupees while revenue from operations increased 24 percent.
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PINE LABS LTD reported a sixfold profit surge during the September quarter, driven by accelerating digital transactions across India. The fintech firm's quarterly net income jumped to 385.7 million rupees ($4.05 million) from 59.7 million rupees a year earlier. The results pushed company shares up nearly 6% during Thursday's late afternoon session.
