Pine Labs extends tech partnership with Woolworths Group

Through its Qwikcilver subsidiary, Pine Labs powers the technology platform supporting Woolworths' gift card programs.

Pine Labs? Qwikcilver platform supports the lifecycle of gift cards products, including issuance, processing, transaction management, and omnichannel program capabilities.

B Amrish Rau, CEO, Pine Labs, said: The most valuable technology partnerships are built over time and become part of the infrastructure that businesses rely on every day.

Over the past five years, Pine Labs and Woolworths have established that kind of relationship. We are now expanding the technology foundation with enhanced platform capabilities that can support new gift card experiences and stored value use cases.

Pine Labs is a technology company focused on digitising commerce through digital payments and issuing solutions for merchants, consumer brands, enterprises and financial institutions.

The company's consolidated revenue grew 20% YoY to Rs 737 crore, while profit after tax increased fourfold to Rs 20 crore from Rs 5 crore in Q1 FY26. Profit before tax stood at Rs 38 crore, compared with a loss of Rs 5 crore in the year-ago quarter.

The scrip fell 2.14% to currently trade at Rs 169.50 on the BSE.

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