Pine Labs Limited CC-Feb26.pdf · 2026-01-28
Thank you for the opportunity and congratulations on a good set of numbers. So a couple of questions from my side. Firstly, if you can help just decode this 29% GMV growth that we have reported on a Y-o-Y basis in this quarter, it is more of a market share play that is playing out in our favor because most of the payments instrument you see like credit card spending has not been going up so great even on the UPI side the growth is broadly in the range of 22 % to 25%, so that was one. Second thing I wanted to understand is that has there been any communication from the regulator regarding the PIDF incentive income because there was some media article recently floating around indicating that scheme will not continue. So what would be the proportion of such incentive income as part of our revenue and third piece would be your take rates on the affordability , VAS side. So I did some back of the envelope calculation and noted that the take rates for your affordability , VAS business is slightly coming down. So how should one look at it? So, ye s, these were the three things from my side.
Yes. That answers my question. Just one followup. So on GTV side, if you can just provide some mix around what would be the mix of Domestic and International? You have given on top line side, but on GTV, it will be.