Pine Labs

“Anyways, as you drive more of flow-based income of our platforms, our EBITDA will continue to expand. I do expect the H2 EBITDA will be at a much higher position than where it was for H1.”

“I think adjusted for these, there will be a normalized increase in the business given the opportunity we see. Otherwise, I think you will see more or less steady state numbers across the two years.”

“But in terms of pure soundbox-related expenses and capex, I still think that it is the immaterial number.”

“on a trailing 12 month basis, we have almost deployed close to about 100,000 terminals in the mid market segment.”

“long period of time and through this Q2 we are now deployed all across all the stores of Tanishq.”

“On the offline side of the business, on the enterprise accounts, we continue to hold on to 100% of our businesses out there.”

“On the processing side, as you know, we already have about 80% to 85% of the market.”

“we now distributed somewhere close to 25,000 to 30,000 cards on a monthly basis on the Bharat Yatra prepaid card, which is being used for daily transit.”

“The volumes grew in a little higher, came in at about 50% because we have actually again gained market share on the UPI side and that is the reason why the volumes are almost at 50%.”

“Navratri and Dussehra were extremely strong. So as far as the Navratri and Dussehra period was concerned, I have nothing to worry about in terms of what has happened in those days. However, when it comes to Diwali, I think we will know in the next two weeks.”

“75% to 77% of the transactions on our POS machine is now a UPI transaction. Only 25% is a card based transaction.”

“So what we felt was everybody has heard the 40 basis points which are going to come out. I think it is fairly clear that to the acquirer going to be anywhere about 11 basis points.”

“a large part of our base also now comes from the mid market segment where they are going at 40% and we are all on the transaction rails there.”

“However, what happens in the payment business is when you actually go ahead into a sales team expansion, the sales team becomes productive and remunerative only over a nine month period as such.”

“We are also deploying more sales people in the international markets because of these wins that we have created in the international market.”

“No, I think we are about 5200 people. If you see we have added net about 675 to about 680 people. Almost all of those people are in sales and are some bit of field ops”

“So we have made investments on the sales people side, which will have an increase from the number that you would have seen in Q1 and Q2 when it comes to sales people and the overall wage bill.”

“Within those businesses, the DITP business continues to hold healthy margins between 81% to 82%, 83%.”

“I would not extrapolate this quarter. I would say we have done well in this quarter, but it is not to be extrapolated.”

“Because large part of the, depending on how the festive season goes, the early settlements will come in, offers come in. I think a lot of offers will come in during Diwali. So all of that will lead to that cycle.”

“By the end of November, we will have an employee tax benefit card out in the market that effectively will allow us to go back to the corporates that we have any which way been working with”

“We have actually been working on the solution over the next two months and looking forward to what we will deploy when it comes to payment services from a consumer standpoint.”

“we are seeing more new use cases come up on the issuing side of the business and we will be launching them in the month of November.”

“GFF happened in Q3 last year, GFF happened in Q2 this year, so that is a cost which is switched between quarters”

“I have nothing more to add in terms of when UPI MDR will go live. Ball is completely in NPCI's court.”

“From a commercial standpoint, I absolutely do believe when it comes to the largest of large merchants that we have with us, there will be a commercial conversation to be had for sure.”

“you also are now having to pay almost 80% advance to lock-in prices given that chip shortages are there, the vendors earlier worked on 20% advance, they want higher advances.”

“one of the largest retailers in the world has actually decided to move out of the Singapore market. So the distribution of those cards in the Singapore market is a business which has actually been reduced in Q2 for us very specifically.”

“So some of that revenues have actually gone away, but you are not seeing any material impact of that when it comes to the EBITDA line.”

“So as you know, we came in at about 24% growth on the revenue side and as far as EBITDA is concerned, adjusted EBITDA is concerned, we came in at about 27% growth on a year-on-year basis”

“Coming to the flow based income, the flow based income in Pine Labs actually grew by about 25% on a year-on-year basis.”

“Also, we see an effective tax rate, Nitin, has gone down compared to the earlier quarter”

“So mix is a long-term guidance. It is not something that can be trapped on a quarter-on-quarter basis.”