PB Fintech Q4: Firm narrows net loss to ₹9 cr, revenue up 60%

  • The revenue from operations rose 60.85 per cent to 869.09 crore

Livemint
Updated22 May 2023, 07:11 PM IST
PolicyBazaar is backed by Info Edge (India) Ltd, Inventus Capital, Ribbit Capital and Intel Capital. In April 2013, the company had raised $5 million in a round led by Inventus Capital Partners.<br />
PolicyBazaar is backed by Info Edge (India) Ltd, Inventus Capital, Ribbit Capital and Intel Capital. In April 2013, the company had raised $5 million in a round led by Inventus Capital Partners.

PB Fintech on Monday reported net consolidated loss for the quarter ended March at 8.95 crore. The company narrowed it net loss from 219.60 crore in the same quarter a year ago.

The revenue from operations rose 60.85 per cent to 869.09 crore in the quarter under review from 540.29 crore in the year ago period, the company said in an exchange filing.

The company said that it 'broke even and consolidated adjusted EBITDA stood at 28 crore for the quarter ended March 2023.

“As we had guided earlier about breaking even in Q4, we are glad to announce that we broke even and our consolidated adjusted EBITDA was a positive 28 Cr for Q4 which is a 3% EBTIDA margin, an improvement from minus 80 Cr (-15% margin) same quarter last year . Just to reiterate here, our existing businesses comprising of Policybazaar and Paisabazaar which are the insurance and credit marketplaces respectively have been adjusted EBITDA positive for more than a year with Paisabazaar individually being EBITDA positive since December 2022,” said PB Fintech in its filing.

Of the total business, insurance premiums grew 65% year-on-year to 3,586 crore and credit disbursals were at 3,358 crore, up 53% year-on-year.

In the existing business, operating revenue grew 31% year-on-year to 504 crore with contribution margins coming at 44%. Core business adjusted EBITDA was 64 crore during the March quarter.

The business growth in the fourth quarter was driven by renewal income, which is at an ARR (annual run rate) of 388 crore-plus, and higher efficiency and growth in new business.

In the credit business, the company has a run rate of 15,000 crore disbursal and 5.3 lakh credit card issuance on an annualised basis. About 35 million customers have accessed credit score on its platform.

The company's share closed 1.76 per cent down at 618.75 on BSE.

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First Published:22 May 2023, 07:11 PM IST
Business NewsMarketsStock MarketsPB Fintech Q4: Firm narrows net loss to ₹9 cr, revenue up 60%

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