Policybazaar's Parent Company Records A Profit For The Second Consecutive Quarter At ₹60 Cr

PB Fintech, the parent entity of insurance aggregator Policybazaar, reported a net profit for the second consecutive quarter.

PB Fintech Q4 Earnings: The company posted a profit of ₹60 crore for the fourth quarter that ended March after registering a loss of ₹9.34 crore in the corresponding quarter of the previous year, according to a regulatory filing. Its revenue from operations saw a 25% increase, rising to ₹1,090 crore from ₹869 crore in the same period of the preceding fiscal.

The fintech firm concluded its FY24 with a profit of ₹64 crore and operating revenue of ₹3,437 crore. Revenue from its core online marketplaces, Policybazaar and Paisabazaar, surged 39% to ₹2,375 crore, while the adjusted EBITDA for Q4 of FY24 improved to ₹324 crore year-on-year.

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For the quarter, the company’s total insurance premium reached ₹5,127 crore, with an annual run rate (ARR) of insurance of ₹20,000 crore. The renewal or trail revenue increased to an ARR of ₹577 crore, up from ₹388 crore in the same quarter last year. This segment typically operates at over 85% margins and significantly contributes to profit growth.

Since the company’s earnings were posted after market hours, the company’s stock price wasn’t impacted right away. However, PB Fintech did close 2.8% lower at ₹1,246.95 on Tuesday.

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Posted In: EarningsNewsPB Fintech