Revenue grew 47.8% to ₹418.9 crore from ₹283.5 crore a year earlier, while EBITDA rose 44.1% to ₹124.1 crore from ₹86.1 crore.
The EBITDA margin, however, moderated to 29.6% from 30.4% in the year-ago period. The company said margins remained stable sequentially, with the year-on-year moderation largely reflecting pre-operative costs linked to new geographies and facilities.
A key growth driver during the quarter was the company’s international business. Export traction lifted the contribution of international revenue to 15.3% of total revenue, sharply higher from 3.9% in Q1 FY26.
The company also benefited from a favourable product mix, with a higher contribution from premium, technology-driven and value-added offerings, including metal cards.
K Girish Kini, Executive Director & CEO of Manipal Payment and Identity Solutions, said the company had started FY27 on a strong note, with broad-based growth across its portfolio.
“As we move forward, we remain focused on deepening customer relationships, expanding our international presence, strengthening our premium and technology-driven offerings, and continuing to invest in innovation and capacity,” Kini said.He added that the company’s technology capabilities, domain expertise and longstanding customer relationships would support its expansion across existing and new markets.
Shares of Manipal Payment and Identity Solutions closed at ₹402.55 on the NSE on Thursday, down ₹7.30, or 1.78%, ahead of the results announcement.