Pine Labs increased net profit in the second quarter by 6.5 times; Cognizant revised its growth forecast for 2026

The Ministry of Finance expects India's economy to grow by 7.3% in the fiscal year 2027. This estimate, presented in the ministry's October economic review, slightly exceeds the 7.1% forecast previously published by the Reserve Bank of India. The ministry also pointed to risks such as inflation, geopolitical tensions, energy price volatility, and tightening global financial conditions, but noted that India is 'well positioned' to maintain its growth trajectory.

Meanwhile, Sridhar Vembu from Zoho cautioned everyone about the impact of artificial intelligence, stating that one smart person using AI can perform the work of ten. He wrote on X that the risk is becoming increasingly real, but this does not mean that 90% of computer workers will lose their jobs; rather, it will lead to an economic rebalancing, which will be a painful process.

Previously, at the TechSparks summit by YourStory, Vembu stated that AI could surpass 90% of coders within six months.

In the private equity sector, the firm One Planet Partners entered into a partnership with the Japanese bank Sumitomo Mitsui Trust Bank to launch a fund worth 300 billion rupees. This fund will focus on high-growth enterprises benefiting from the energy transition, mobility, and industrial expansion based on manufacturing in India.

Regarding company financial results, Pine Labs' net profit in the second quarter of the fiscal year 2027 grew by 6.5 times, reaching 38.6 billion rupees, while revenue increased by 24% year-on-year to 806 billion rupees. In the same period last fiscal year, the company reported a net profit of 6 billion rupees and revenue of 650 billion rupees.

US-based IT company Cognizant demonstrated more than double the net profit in the third quarter of 2026, with revenue growing by 4.6%. For the third quarter of 2026, the company reported a net profit of $627 million, compared to $274 million for the same period in 2025, representing a 129% increase. Revenue reached $5.66 billion in the third quarter of 2026, up from $5.41 billion in the quarter a year earlier. Nevertheless, the company revised upward the upper bound of its annual growth forecast for 2026.

Similar stories

yourstory.comOctober 29, 15:14

Pine Labs reports 6.5 times growth in net profit in the second quarter of fiscal year 2027

The fintech company Pine Labs reported a significant increase in net profit in the second quarter of fiscal year 2027. Profit grew by 6.5 times to reach 38.6 crore rupees, while revenue increased by 24% compared to the same period last year, amounting to 806 crore rupees.

In the same quarter of the previous fiscal year, the company's net profit was 6 crore rupees, and revenue was 650 crore rupees.

Amrish Rau, CEO of Pine Labs, noted that the second quarter was a comprehensive period marked by growth in both payment acceptance and issuance, as well as 15% of revenue coming from global markets and 14% from products launched in the last two years.

According to Pine Labs data, the company currently processes over 25 million transactions daily across various business sectors, which is more than 22% higher year-over-year.

The company stated that its online payments business demonstrated a growth of over 45% year-over-year. Gross Transaction Value (GTV) growth reached 140%, driven by expansion in agency commercial services, cross-border payments, the Small and Medium Business (SMB) segment, and government sectors.

In international business, covering over 22 markets, revenue from Southeast Asia (SEA) increased by approximately 40% year-over-year. Furthermore, the company reported that its operations in the UAE exceeded one lakh daily transactions.

Pine Labs also mentioned that AI agents are now involved in approximately 89% of code changes. The company plans to use this efficiency to invest in new products, geographical regions, and categories while maintaining a strong EBITDA profile.

According to Pine Labs, the company is increasing investments in branding, aiming to become the default trade infrastructure for the Global South. Rau emphasized that 'the opportunities before us are expanding, not shrinking.' He added that the current moment is favorable for development due to the introduction of a new set of products this quarter, an order for 10 lakh sound boxes in the medium term, the launch of agency commercial services on a leading Indian trading platform, and the opening of the UPI monetization window.

business-standard.comOctober 27, 20:03

United Breweries' profit nearly triples to 134.81 crore rupees due to sales volume growth

United Breweries Ltd, a beer manufacturer, reported on Tuesday a nearly threefold increase in consolidated net profit to 134.81 crore rupees for the September quarter. This growth is attributed to premiumization, improved operational efficiency, and increased sales volumes.

According to regulatory filings, the company, which is controlled by the Dutch multinational brewing concern Heineken NV, earned a net profit of 46.34 crore rupees for the period from July to September last year.

For the September quarter of fiscal year 27 (FY27), United Breweries' operating revenue increased by 23.7% compared to the same period last year, reaching 4,623 crore rupees against 3,737.31 crore rupees.

Key Metrics and Growth

The UBL earnings report indicated that net revenue grew by 24%, supported by strong volume growth, structural price increases, premiumization, favorable geographical mix, and an improved operational structure of the company.

Furthermore, the company's EBITDA increased by 108% in the reporting quarter, and the EBITDA margin improved by 480 basis points. This resulted from better operational efficiency and cost control, as stated in the stock exchange filings.

The company noted that the beer segment continued to show double-digit growth, with faster acceleration during the quarter. UBL sales volumes grew by 16%, while inventory levels remained lower than in the corresponding period of the previous year, indicating high consumer demand and healthy market fundamentals.

Premium Segment Growth and Overall Expenses

Premium volumes demonstrated a growth of 38%, led by 'Heineken Silver', which accelerated by 67%, and 'Kingfisher Ultra', which showed a growth of 44%. This strengthened UBL's premium portfolio and contributed to the scaling of premiumization.

UBL's total expenses amounted to 4,481.66 crore rupees, which is 21.57% higher compared to the previous year in the reporting quarter. The company's total income also increased by 24.31%, reaching 4,664.33 crore rupees.

UBL emphasized that the quarter was characterized by a powerful category momentum, accelerated by premiumization, significant profitability expansion, and sustained improvement in cash generation, supported by disciplined execution and investments in future development.

First Half and Outlook

In the first half (H1) of fiscal year 27, UBL's total consolidated revenue increased by 16.3%, amounting to 10,634.48 crore rupees.

Regarding future prospects, UBL stated that it continues to see attractive long-term growth opportunities in the Indian beer market. These opportunities are supported by favorable demographics, growing consumer preferences for beer, and ongoing premiumization trends.

The company maintains its focus on category development, strengthening its portfolio through innovation, expanding availability, improving productivity, and enhancing operational efficiency across the entire value chain.

United Breweries Ltd shares closed at BSE at 1,143.60 rupees per share, showing a growth of 0.62%.