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Pine Labs profit jumps over sixfold as India's digital payments boom lifts demand

Oct 29 (Reuters) - Indian ⁠fintech firm Pine Labs reported a more than ⁠sixfold jump in second-quarter profit on Thursday, ‌buoyed by rising adoption of digital payment services, sending its shares up nearly 6%.

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由于印度数字支付热潮提振了需求,Pine Labs利润增长超过六倍。

A worker uses a Pine Labs machine for transaction at a fuel station in Ahmedabad, India, August 5, 2022. REUTERS/Amit Dave

Oct 29 (Reuters) - Indian ⁠fintech firm Pine Labs reported a more than ⁠sixfold jump in second-quarter profit on Thursday, ‌buoyed by rising adoption of digital payment services, sending its shares up nearly 6%.

More than 500 million people use the Unified ​Payments Interface (UPI) in India for transactions ⁠ranging from everyday ⁠purchases to high-value consumer goods.

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