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Business News/ Companies / Company Results/  PB Fintech Q1 results: Net profit stands at 60 crore, revenue rises to 1,010 crore

PB Fintech Q1 results: Net profit stands at ₹60 crore, revenue rises to ₹1,010 crore

PB Fintech Q1 results: Net profit stands at 60 crore, revenue rises to 1,010 crore

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PB Fintech Q1 results: Net profit stands at 60 crore, revenue rises to 1,010 crore

PB Fintech, the parent company of PolicyBazaar, Paisabazaar and PB Partners, on 6 August, reported a third consecutive quarter of profits in quarter one of financial year 2025.

The company recorded a net profit of 60 crore, turning in the green, from a loss of 12 crore in the same period last year. To be sure, PB Fintech had reported a net profit of 38 crore and 60 crore, respectively in Q3 and Q4 of FY24.

Moreover, PBFintech’s revenue rose to 1,010 crore, up 52 percent from 666 crore in the same quarter in the last financial year. This comes as the company’s premium from online business grew by 62% year on year led by a spike of about 78% in the health and life insurance segment.

“Our core health and life insurance businesses are growing ahead of expectations. In anticipation of continued growth, we have over invested in building operational capacity," said the company, in a statement on its quarter one earnings.

PB Fintech's total insurance premium for the quarter amounted to 4,871 crore, with its renewals and trial Annual Recurring Revenue (ARR) at 559 crore, up from 418 Cr last year in the same quarter. “This typically operates at over 85% margins and is a significant source of profit growth," added the company.

Meanwhile, the credit business Paisabazaar, witnessed moderation in growth. The loan disbursal was down by 11% quarter on quarter to 3,140 crore in Q1 from 3,542 last quarter, as the firm sold 1.34 lakh credit cards compared to 1.4 lakh in the previous quarter. The company, however, continues to be adjusted EBITDA positive since December of 2022, it said.

Founded in 2008, by Yashish Dahiya, the umbrella entity that now operates as PB Fintech, comprises insurance and credit marketplaces Policy Bazaar and Paiza Bazaar respectively that offer end-to-end insurance & credit solutions to consumers. The company also runs PB Partners, an enablement platform for more than 2,00,000 partners to help them manage insurance sales using technology.

PB Fintech, which entered the United Arab Emirates in FY19, said that its insurance premium from the geography grew about 64% year on year. To be sure, a majority of revenue from UAE is clocked by PB Fintech’s motor insurance segment. However, the company is focusing on growing its health and life insurance revenue from the geography, which together makes up for the second largest revenue driver.

The company also announced the appointment of Dhruv Shringi, the former CEO of Yatra, as an additional director. Shringi will join PBFintech in the capacity of non-executive independent director.

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