Pine Labs Chief Financial Officer Sameer Kamath told NDTV Profit unused balances on co-branded gift cards are passed on entirely to partner brands, adding that Pine Labs records no income from breakage either in its profit and loss statement or on its balance sheet.
Pine Labs Chief Financial Officer Sameer Kamath has clarified that the company does not earn income from unused balances on co-branded gift cards. These balances are entirely passed on to partner brands. The company records no income from breakage on either its profit and loss…
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