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Informist, Monday, Aug. 3, 2026

 

By Priyasmita Dutta

 

NEW DELHI – PB Fintech Ltd. is expected to report a year-on-year jump in its consolidated net profit for the June quarter, supported by a steady rise in insurance premiums. However, sequentially, its bottom line is seen dragging due to the seasonality factor, according to brokerages tracking the company. PB Fintech operates the insurance aggregator platform Policybazaar and lender platform Paisabazaar. 

 

The fintech company is expected to report a consolidated net profit of INR 1.30 billion – INR 1.49 billion during the June quarter, according to estimates from three brokerages, sharply higher than the INR 845.90 million reported in the June quarter last year. Sequentially, however, the net profit is expected to nearly halve from the INR 2.61 billion reported in the March quarter. 

 

The lowest estimate for net profit at INR 1.30 billion is from JM Financial Institutional Securities Pvt. Ltd, and the highest is INR 1.49 billion from BoFA Securities. PB Fintech will announce its financial results for the June quarter on Wednesday.

 

PB Fintech's revenue stream includes commission, fees, and recurring income for connecting customers with financial products. While the lending business, Paisabazaar, is expanding and has shown strong growth in loan disbursals, the insurance segment, Policybazaar, contributes a larger share of revenue and profitability, making it the company's primary growth driver.

 

"Insurance premium growth is expected to remain healthy, with health insurance growing substantially, supporting strong momentum in the core online business," Motilal Oswal Financial Services Ltd. said in a report. The brokerage estimates the company's revenue to rise nearly 35% on year to INR 18.10 billion, maintaining the over-34% year-on-year growth seen in at least the last four quarters. BoFA Securities has the highest estimate for revenue at INR 18.23 billion, while JM Financial has the lowest at INR 17.83 billion. 

 

Within revenue, brokerage JM Financial expects PB Fintech's revenue from Policybazaar to total INR 16.32 billion, up 36% on year and revenue from Paisabazaar to total INR 1.51 billion, up 4% on year. The brokerage expects PB Fintech's insurance premium to have risen 36% on year to INR 80.48 billion during the June quarter, "driven by continued strength in retail health and life insurance." Sequentially, this would be down 13%.

 

Loan disbursal, on the other hand, is likely to fall 28% on year and 2.3% on quarter to INR 50.63 billion, JM Financial said. "Disbursals are expected to decline 2.3% QoQ, reflecting the ongoing re-strategisation of PB Connect, while core lending trends remain healthy," it said. PB Connect by Paisabazaar is a mobile application built to simplify and streamline partner onboarding and management. It is built to manage Paisabazaar's network of retailers, channel partners, and field teams. 

 

In the quarter ended March, PB Fintech's total insurance premium had grown 46% on year to INR 92.17 billion. Its total revenue was INR 20.61 billion, of which Policybazaar contributed INR 19.12 billion, and Paisabazaar contributed INR 1.50 billion. 

 

"The growth trajectory of new business initiatives is likely to remain subdued due to slower execution in the UAE business," Motilal Oswal said, adding that possible changes in commission structure will be the key item to monitor. 

 

Of the seven brokerage reports on the company available with Informist, four have a "buy" call on the stock with an average target price of INR 1,960, almost 26% higher than its current market price. Two brokerages have a "hold" rating. Monday, shares of the company closed 3% higher at INR 1,650 apiece on the National Stock Exchange. Since reporting its March quarter results on May 6, shares of the company have fallen 3%. 

 

Following are the June quarter earnings estimates for PB Fintech based on reports from three brokerage firms in ascending order of the estimates of net profit in INR billion:

 

Brokerage	Net Sales	Net Profit
JM Financial Institutional Securities Pvt. Ltd.	17.833	1.304
Motilal Oswal Financial Services Ltd.	18.100	1.400
Bank of America Global Research.	18.234	1.490
Average	18.057	1.398

 

 

End

 

Edited by Himanshi Gupta

 

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