PB Fintech Turns Profitable In Q3. Company Management Speaks On Profits & Business Expansion

PB Fintech Ltd, the parent company of insurance aggregator Policybazaar, marked a significant milestone by reporting its first-ever net profit. For the third quarter ending December 31, 2023, it recorded a profit after tax of ₹37.2 crore. This stands in stark contrast to the same quarter last year when PB Fintech faced a net loss of ₹87.6 crore, as stated in its regulatory filing. The company's revenue surged by 42.7% to ₹870.9 crore from ₹610.1 crore in the corresponding period of the previous fiscal year. Notably, revenue from core online marketplaces, Policybazaar and Paisabazaar, soared by 39% to ₹593 crore. Moreover, the company achieved a year-on-year improvement of ₹50 crore in adjusted EBITDA for Q3 of FY24, with a consistent quarterly increase over the past six quarters, aligning with the annual guidance of incremental ₹200 crore adjusted EBITDA. BTTV's Sakshi Batra speaks with Company's Management on Q3 results and growth guidance. Watch this exclusive conversation.