EL7.AI
StocksMedium•29 October 2026•
4 min read

Zensar Revenue Reaches $166.2 Million; Pine Labs Lifts Profit to 38.6 Crore Rupees

Key Facts

1Zensar revenue was $166.2 million in the second quarter of fiscal 2027, up 4.1% sequentially in constant currency.
2Pine Labs net profit rose to 38.6 crore rupees, compared with 6 crore in the corresponding period a year earlier.
3Pine Labs consolidated revenue increased 24% to 806.2 crore rupees.
4Zensar's EBITDA margin was 15.8%, up 120 basis points sequentially.

Zensar and Pine Labs reported results for the second quarter of fiscal 2027, ended in September 2026, with both companies recording growth in revenue and profitability as their shares rose in trading on October 29. Zensar revenue was $166.2 million, up 4.1% sequentially in constant currency and 4.2% in dollar terms, according to ICICI Direct Research data. At Pine Labs, consolidated revenue rose 24% to 806.2 crore rupees from 650 crore in the corresponding period of the previous fiscal year, according to Moneycontrol. Market data showed Zensar shares up 8.07% at 3:09 p.m., while Pine Labs shares rose more than 7% in trading after the results announcement before paring some gains. The results are for fiscal 2027, not 2026 as stated in the previous draft.

Zensar's profitability margin improved during the quarter, with EBITDA margin at 15.8% of revenue, up 120 basis points from the previous quarter, according to the text of the company statement published by EquityBulls. Revenue for the period was $166.2 million, with sequential growth of 4.1% in constant currency; it also recorded sequential growth of 4.2% when measured in dollars. In an earlier quarterly comparison, consolidated sales were 1,508.30 crore rupees in June 2026, up 8.9% year on year, according to Moneycontrol. Zensar's board approved the unaudited results for the period ended September 30 at its meeting on October 28, according to a company disclosure listed with the National Stock Exchange of India. These figures place the margin improvement in the context of the company's performance over two consecutive fiscal quarters.

Zensar's sectors posted mixed performance, with banking, financial services and insurance leading sequential growth, up 7.1% in constant currency, while communications, media and technology fell 2.2%, according to ICICI Direct Research. The order book stood at $151.5 million, up 1.5% from the previous quarter but down 4.5% year on year. The chief executive said AI-influenced deals accounted for 36% of the order book in the second quarter of fiscal 2027. The order book thus combined a quarterly increase with an annual decline, while sector contributions varied between growth in financial services and contraction in communications, media and technology. These indicators highlight the difference between current revenue drivers and the volume of expected business in the order book compared with the previous year.

At Pine Labs, net profit rose to 38.6 crore rupees in the second quarter of fiscal 2027, compared with 6 crore rupees in the corresponding period a year earlier, according to Moneycontrol. This was accompanied by 24% growth in consolidated revenue to 806.2 crore rupees from 650 crore. EBITDA also increased 67.3% to 126 crore rupees, from 75.3 crore a year earlier, and its margin widened to 15.6% from 11.6%. The comparison means profit growth came from a previous base of 6 crore rupees, while revenue and operating profit also increased year on year over the same period. The shares gained more than 7% in trading on October 29 after the results announcement, then gave back part of the rise.

Pine Labs' chief executive said the company recorded growth in its payments acceptance and issuance businesses, and that international markets contributed 15% of revenue. He added that products launched over the previous two years accounted for 14% of revenue in the quarter, according to Moneycontrol. The company set a future revenue growth target of between 21% and 23%, while targeting an EBITDA margin above 20%. The chief executive said: "Achieving revenue growth of between 21% and 23% and EBITDA margins above 20% is the balance we are aiming for." This target sets a benchmark for tracking the company's performance in coming periods, alongside changes in the contribution of international markets and newer products.

Across the Indian economy, the flash services purchasing managers' index rose to 56.2 in October from 55.2 in September, according to a preliminary survey published on October 23. The composite index also climbed to 56.7 from 55.9, exceeding the Reuters poll average of 56.1. However, the survey indicated that services employment was unchanged, ending a nine-month growth streak. In separate data released on October 28, industrial output growth slowed to 6.7% year on year in September, from a revised 7.8% in August, according to ThePrint. The indicators present a mixed picture of economic activity, from an improved reading for services business to slower industrial output growth; the published data do not link these readings to movements in Zensar and Pine Labs shares.