Pine Labs Reports Profit Surge; Cognizant Adjusts Growth Outlook

Pine Labs reported a 6.5-fold increase in net profit for the second quarter of fiscal year 2027, reaching Rs 38.6 crore. This growth follows a profit of Rs 6 crore in the same period of the previous fiscal year. Revenue for the fintech firm rose 24% year-on-year to Rs 806 crore.

Quarterly Performance and Strategic Focus

The company attributed its performance to growth in its online payments division, which expanded by 45% year-on-year. Gross transaction value increased by 140%, driven by expansion into cross-border payments, government segments, and small and medium businesses. The company noted that AI agents now account for approximately 89% of code changes, allowing the firm to reinvest efficiency gains into new products and geographic expansion.

Pine Labs currently operates in more than 22 international markets. The company reported that its Southeast Asia revenue grew by 40% year-on-year, and its UAE business surpassed one lakh daily transactions.

Cognizant Adjusts Future Outlook

Cognizant, a U.S.-based IT services company, reported that its net profit more than doubled in the third quarter of 2026, reaching $627 million compared to $274 million in the same period of 2025. Revenue grew by 4.6% during the quarter. Despite these results, the company has trimmed its growth outlook for 2026.

Economic Context

The Indian Ministry of Finance projects the national economy will grow by 7.3% in fiscal year 2027. This estimate is higher than the 7.1% forecast released by the Reserve Bank of India earlier this month. The ministry identified inflation risks, geopolitical tensions, and energy price volatility as factors affecting the outlook, but stated that India remains positioned to sustain its growth trajectory.

Separately, Sridhar Vembu of Zoho commented on the impact of artificial intelligence on the workforce. Vembu stated that while AI may lead to economic rebalancing, it does not necessarily mean the elimination of work for most computer-based roles. He noted that organizations must prepare for these shifts as AI capabilities evolve.