PB Fintech reports Rs 37-cr profit in Q3, revenue rises 43% to Rs 871 cr

PB Fintech Ltd, the parent firm of Policybazaar, reported a profit of Rs 37 crore for the third quarter ended December 31,2 023. The Q3 show was led by robust growth in insurance premium and improvement in contributing margins. PB Fintech reported a loss of Rs 21.1 cr in the preceding September quarter. In Q3FY23, the company reported a loss of Rs 87.6 crore.

Adjusted EBITDA margins rose to 4% from -5%. Cash position improved by Rs 204 crore YoY to Rs 5,150 crore. Core online revenue climbed 39% YoY to Rs 593 crore.

In Q3FY24, the company reported a 43 per cent rise in operating revenue at Rs 871 crore.

Revenue of the new initiatives business climbed 50% YoY to Rs 278 crore in the reported quarter. PB Fintech said its new initiatives vertical reached break-even on a contribution margin basis in Q3FY24.

Policybazaar’s total insurance premium stood at Rs 4,261 crore and its annual run rate (ARR) for insurance premium stood at Rs 17,000 crore.

On Tuesday, PB Fintech's scrip closed trading 1% higher at Rs 909.25.