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Informist, Tuesday, Aug 6, 2024

--PB Fintech Apr-Jun consol revenue 10.10 bln rupees vs 6.66 bln 
--PB Fintech Apr-Jun consol PAT 601.8 mln rupees vs 114.1 mln loss 
 

MUMBAI – PB Fintech reported a consolidated net profit of 601.8 mln rupees in the June quarter compared with a loss of 114.1 mln rupees in the year-ago period. The bottomline rose due to a rise in revenue from operations. On a sequential basis, the profit was almost flat.

The revenue from operations of the company grew 52% on year to 10.10 bln rupees in the quarter ended June. Total expenses of the company increased by nearly 41% on year to 10.81 bln rupees for the reporting quarter. Sequentially, the expenses fell by 3%.

PB Fintech owns insurance aggregator platform Policybazaar and the loan aggregator platform Paisabazaar. In terms of core metrics, insurance premiums rose to 48.71 bln rupees in the June quarter from 30.11 bln rupees a year ago. Credit disbursals fell by 11.3% on year to 31.40 bln rupees in the reporting quarter. Policybazaar has a market share of 93% in the online aggregator space and has sold 44.3 mln insurance policies so far. Paisabazaar issued 130,000 credit cards in the reporting quarter.

The earnings were announced post market hours. On the National Stock Exchange, the shares of the company today closed 2.6% lower at 1,434.85 rupees.  End

Reported by Kshipra Petkar

Edited by Akul Nishant Akhoury

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