HomeStartupPine labs spent Rs 1.25 to earn a rupee in FY23

Pine labs spent Rs 1.25 to earn a rupee in FY23

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Android Pos Billing Machine: Why Android Pos System is The Future of  Payments? | Pine Labs
  1. Pine Labs witnessed robust growth, with operating revenue soaring by 56.15% from FY22 to FY23, reaching Rs 1,588 crore from Rs 1,017 crore.
  2. The Payments Segment experienced significant growth of 75.1%, contributing Rs 1,077 crore to FY23 revenue, while the Issuing Segment grew by 32% to Rs 445 crore.
  3. India accounted for 91% of Pine Labs’ operating income, whereas Singapore generated 4% in FY23.
  4. Total expenses surged by 44.49% to Rs 1,981 crore in FY23, primarily driven by a 32% increase in employee benefit expenses, reaching Rs 895 crore.
  5. Losses decreased by 12.36% to Rs 227 crore in FY23 from Rs 259 crore in FY22. Notably, EBITDA Margin improved from -1% in FY22 to 8% in FY23.
  6. Despite increased expenses, Pine Labs showed better financial efficiency, with a reduction in expense per rupee of operating revenue from Rs 1.35 in FY22 to Rs 1.25 in FY23. Additionally, ROCE improved from -6% in FY22 to -4% in FY23
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