pb fintech q3fy24 earnings: PB Fintech Q3 Results: Policybazaar parent posts Rs 38-crore PAT vs loss a year ago

MUMBAI – PB Fintech Ltd on Tuesday reported strong numbers for the quarter ended December 2023, with the company posting a consolidated net profit of Rs 38 crore, against a loss of Rs 87.3 crore a year ago, and a loss of around Rs 20 crore a quarter ago.

Revenue from operations increased 43% year-on-year (YoY) to Rs 871 crore.

Revenue from its core online marketplaces – Policybazaar and Paisabazaar – grew 39% to Rs 593 crore, while the adjusted operating profit improved by Rs 50 crore YoY.

“Our Adjusted EBITDA for the last 6 quarters has improved by Rs 50 crore each quarter, in line with our annual guidance of incremental Rs 200 core adjusted EBITDA,” the company said.

The total insurance premium for the quarter was Rs 4,261 crore, with an ARR of Rs 17,000 crore insurance premium. Renewal/trail revenue was at an ARR of Rs 454 crore, up from Rs 317 crore in the same quarter last year.

“We continue to improve our customer onboarding and claims support services and maintain insurance CSAT of 88%,” it said. The credit business continued to grow well and has been positive at the operating level.(Subscribe to ETMarkets WhatsApp channel)

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