Noida-based Pine Labs, which announced its initial public offering on Monday, has plans to expand its global footprint. B. Amrish Rau, Chairman & MD and Chief Executive Officer tells Nesil Staney and Christina Titus that he is adding merchants at a CAGR of 30%. Excerpts:
You have recently turned profitable. What aided it?
Firstly, I would like to highlight that the company has been profitable for the last five years on an adjusted dividend level, especially the last three years. In FY24, the company was about Rs 155 crores adjusted dividend and in FY25, It was over Rs 355 crores.
Even the trend line on our profit-after-tax (PAT) has been changing over the last few years and we feel that it has been moving in the right direction. In the first quarter of FY26, PAT was Rs 5 crores compared to a loss of Rs 25 crores in the first quarter of FY25. So, there is a clear trend in what we are following.
How much has acquisitions contributed to your growth and profits?
They contributed significantly to our growth. We were able to make many acquisitions of firms with new product capability, not just topline impact.
How are your global ambitions playing out?
We have now started to make a very good presence in the global market. If you can see almost 58% growth in revenues has happened in our international business from FY23 to FY25. And we are now present in about 20 countries.
What are some of the measures that have helped in the global push?
Some of the acquisitions in the recent past have helped the firm’s global push. Qwikcilver acquisition opened several partnerships and products.
We have been working with some great global partners. We have built a world-class platform which adheres to the highest level of security certifications and the various levels of certification, which RBI asked us to do.
How have you grown at the domestic level?
When it comes to merchants, we’ve compounded at about 30% and higher. We think we are the market-dominant force when it comes to fintech and that kind of growth rate is actually unparalleled.