Pine Labs reports third consecutive quarterly profit on strong digital payment demand
Pine Labs achieved its third straight quarterly profit as revenue rose nearly 24 percent. The company benefited from a shift toward digital payments in India.
Insights:
Pine Labs reported a profit of 423.9 million rupees for the quarter ended December 31, marking its third straight quarterly profit as the company expands its presence in the fintech sector of IN 
IN. This financial performance represents a significant turnaround from the same quarter a year earlier, when the firm reported a loss of 566.7 million rupees. Total revenue for the quarter climbed nearly 24% year-on-year to 7.44 billion rupees, calculated at a currency conversion rate of 91.7437 Indian rupees to $1.
IN. This financial performance represents a significant turnaround from the same quarter a year earlier, when the firm reported a loss of 566.7 million rupees. Total revenue for the quarter climbed nearly 24% year-on-year to 7.44 billion rupees, calculated at a currency conversion rate of 91.7437 Indian rupees to $1.
