CosmicTaco

Pine Labs' Revenue Flat, Losses Triple in FY24

CosmicTaco · 2024-10-09T14:27:14.794772+05:30

- Pine Labs India reported a modest 2.8% increase in operating revenue to Rs 1,317 crore in FY24, but losses tripled. - Transaction processing and settlement accounted for 61% of total operating revenue. - Expenses rose by 15.8% to Rs 1,624 crore, with employee benefits being the largest expense. - The company's losses increased to Rs 187 crore in FY24 from Rs 56 crore in FY23. - Pine Labs has received approval to relocate its domicile to India and is likely to debut on an Indian stock exchange in FY26. Source: [Entrackr](https://entrackr.com/2024/10/pine-labs-india-posts-rs-1384-cr-revenue-in-fy24-losses-jump-3x/)

Pine Labs India reported a modest 2.8% increase in operating revenue to Rs 1,317 crore in FY24, but losses tripled.
Transaction processing and settlement accounted for 61% of total operating revenue.
Expenses rose by 15.8% to Rs 1,624 crore, with employee benefits being the largest expense.
The company's losses increased to Rs 187 crore in FY24 from Rs 56 crore in FY23.
Pine Labs has received approval to relocate its domicile to India and is likely to debut on an Indian stock exchange in FY26.

Source: Entrackr