Digital payments firm Pine Labs’ Navin Chandani has stepped down as president of the issuing business and chief business officer (CBO). This was announced on Monday via a filing to the exchanges. Chandani’s resignation will be effective from April 6, 2026.
In his resignation letter, Chandani said he is leaving to ‘pursue career opportunities outside the company.' The company has, however, not yet named a successor.
Chandani was appointed as president of the issuing business and CBO in 2023. Before joining Pine Labs, he served as managing director and CEO at CRIF India and later as regional MD for India and South Asia at CRIF. He also held leadership roles at BankBazaar and spent over four years at Visa, leading payments and consumer business segments across India and South Asia.
The company reported a net profit of Rs 42 crore in the December 2025 quarter, compared to a loss of Rs 58 crore a year earlier. Operating revenue rose 23% to Rs 744 crore, driven by higher transaction volumes, value-added services, and affordability products.
Expenses grew 13% to Rs 704 crore, while employee costs rose 4.7% to Rs 263 crore, with headcount increasing to 4,679. The company processed $51 billion in gross transaction value (GTV) and 1.92 billion transactions during the quarter. In November last year, the company secured payment aggregator (PA) licences for offline payments, online merchant payments, and cross-border processing.
In his resignation letter, Chandani said he is leaving to ‘pursue career opportunities outside the company.' The company has, however, not yet named a successor.
Chandani was appointed as president of the issuing business and CBO in 2023. Before joining Pine Labs, he served as managing director and CEO at CRIF India and later as regional MD for India and South Asia at CRIF. He also held leadership roles at BankBazaar and spent over four years at Visa, leading payments and consumer business segments across India and South Asia.
The company reported a net profit of Rs 42 crore in the December 2025 quarter, compared to a loss of Rs 58 crore a year earlier. Operating revenue rose 23% to Rs 744 crore, driven by higher transaction volumes, value-added services, and affordability products.
Expenses grew 13% to Rs 704 crore, while employee costs rose 4.7% to Rs 263 crore, with headcount increasing to 4,679. The company processed $51 billion in gross transaction value (GTV) and 1.92 billion transactions during the quarter. In November last year, the company secured payment aggregator (PA) licences for offline payments, online merchant payments, and cross-border processing.
