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PB Fintech reports a net profit of Rs 60 crore in Q1, a significant improvement from a loss of Rs 12 crore in the same period last year.
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The company’s revenue from operations grows 51% year-on-year to Rs 1,010 crore, driven by exceptional gains and growth in insurance premium.
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PB Fintech focuses on scaling its secured credit business, aiming to increase secured disbursals to 50% of total disbursals in the next couple of years.
PB Fintech Swings to Profit
PB Fintech, the parent company of Policybazaar and Paisabazaar, has reported a net profit of Rs 60 crore in the first quarter of the financial year 2024-25. This marks a significant improvement from a loss of Rs 12 crore in the same period last year. The company’s revenue from operations grew 51% year-on-year to Rs 1,010 crore, driven by exceptional gains and growth in insurance premium.
Growth Drivers
The company’s insurance premium grew 78% year-on-year, driven by new business in health and life insurance. Additionally, PB Fintech’s credit business via Paisabazaar continued to be adjusted EBITDA positive since December 2022. However, loan disbursal was down by 11% quarter-on-quarter to Rs 3,140 crore in Q1. The company aims to scale its secured credit business, building strong distribution and fulfillment capabilities, and wider partnerships.
Future Plans
PB Fintech plans to launch a personal finance management platform, PB Money, in Q2 to drive engagement. The platform will provide a unified view of multiple bank accounts, give insights on spend patterns, and offer payment reminders and nudges on anomalies to customers. The company also aims to increase secured disbursals to 50% of total disbursals in the next couple of years.
