Navin Chandani has stepped down from his role as president and chief business officer (CBO) of Pine Labs' issuing business. His resignation, effective April 6, 2026, was disclosed in a recent filing to the exchanges.
In his resignation letter, Chandani expressed his intention to pursue career opportunities outside of Pine Labs. The company has not yet announced a successor for his position.
Background
Chandani joined Pine Labs in 2023, bringing a wealth of experience from previous roles. He was the managing director and CEO at CRIF India and later served as regional managing director for India and South Asia at CRIF. His career also includes leadership positions at BankBazaar and over four years at Visa, where he focused on payments and consumer business segments in India and South Asia.
Company Performance
Pine Labs recently reported a net profit of Rs 42 crore for the December 2025 quarter, a significant improvement compared to a loss of Rs 58 crore in the same quarter the previous year. This growth was driven by:
- Operating revenue increase of 23% to Rs 744 crore
- Higher transaction volumes
- Value-added services and affordability products
However, expenses also rose, with a 13% increase to Rs 704 crore, and employee costs growing by 4.7% to Rs 263 crore, leading to a headcount of 4,679. The company processed $51 billion in gross transaction value (GTV) and handled 1.92 billion transactions during the quarter.
Future Outlook
As Pine Labs moves forward without Chandani, the company will need to identify a new leader to guide its issuing business. The recent acquisition of payment aggregator licenses for offline and online merchant payments, as well as cross-border processing, positions the company for continued growth in the digital payments sector.
