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Informist, Monday, Feb. 2, 2026

By Suryash Kumar

MUMBAI - PB Fintech Ltd. is likely to post a sharp rise in its consolidated net profit for the December quarter, driven by strong growth in health and term insurance, according to brokerages. The fintech company owns insurance aggregator platform Policybazaar and also provides loans through Paisabazaar.

The company is expected to report a consolidated net profit of INR 1.75 billion for the December quarter, up nearly 144% on year,  according to the average of estimates from four brokerages. The highest estimate of INR 1.91 billion is by Dolat Capital Market Pvt. Ltd., and the lowest estimate of INR 1.53 billion is by Motilal Oswal Financial Services Ltd.

Even if the company posts a net profit of INR 1.53 billion, the lowest estimate, the net profit will still be 113% higher on year.

The company's revenue is expected to grow nearly 35% on year to INR 17.40 billion, according to average of four estimates. The highest estimate of INR 18.70 billion is from Motilal Oswal and the lowest estimate of INR 16.02 billion is from Nuvama Wealth Management Ltd.

PB Fintech's online premiums are estimated to show "40%+ YoY growth, backed by boost in health insurance owing to GST exemption," for the December quarter, Motilal Oswal said.

Its earnings before interest and taxes are likely to increase to INR 1.13 billion, up 77% on quarter while the EBIT margin is expected to rise by 268 basis points on quarter to 6.6%, owing to better credit business and loss reduction efforts in new initiatives, according to Dolat Capital.

Paisabazaar is likely to post a healthy growth in disbursals on quarter, with an expected 21% rise due to festival season, according to JM Financial Institutional Securities Ltd. However, the contribution margin is expected to be muted due to a higher mix of health insurance, JM Financial said.

As of Mar. 31, Policybazaar hosted over 104.8 million registered consumers while Paisabazaar had a base of 50.8 million consumers--those who accessed their free credit score, according to PB Fintech's latest annual report. In FY25, Paisabazar sourced INR 204.65 billion of disbursals. PB Fintech's September quarter total revenue from operations was INR 16.13 billion, of which revenue from insurance broking services was INR 14.28 billion or nearly 89% of its total revenue from operations.

At 1259 IST, shares of PB Fintech traded at INR 1,566.50 on the National Stock Exchange, down over 3%.  The stock is down nearly 18% since the company reported its results for the September quarter.

Of the eight research recommendations on PB Fintech available with Informist, three have a "buy" recommendation on the stock and one has a "hold" call. The average target price of the "buy" recommendations is INR 1,732, which is 11% higher than the current market price. The average price of the ‘hold' recommendation is INR 2,000 and that of the four "sell" calls is INR 1,643. 

Following are the Oct-Dec earnings estimates for PB Fintech from four brokerages in descending order of the estimate of net profit in INR billion:

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Edited by Akul Nishant Akhoury

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