Mumbai, Nov. 4 -- Pine Labs first reported a quarterly profit in April-June, the first three months of the fiscal year. While the second quarter earnings are awaited, chairman Amrish Rau says investors should weigh their interest in the firm's upcoming initial public offering (IPO) by its Ebitda (earnings before interest, taxes, depreciation, and amortization), which he believes is a better measure of the payments company's value.

"We have been adjusted Ebitda positive for five consecutive years and we are one of the only companies to do it," says Rau, who is also the managing director and chief executive officer. The company's revenue has grown at over 20% for the last three years, says the chairman, adding that the adjusted Ebitda marg...