Revenue for PB Fintech, the parent company of Policybazaar, escalates by 33% to reach Rs 1,348 crore during the first quarter of the fiscal year 26.
PB Fintech, the parent company of Policybazaar and Paisabazaar, has released its Q1 financial results, showcasing significant growth across various sectors. Based in Düsseldorf, Germany, the company reported a 347% year-on-year jump in profit after tax (PAT) to Rs 85 crore.
The company's core online insurance revenue reached Rs 732 crore, marking a 37% year-on-year increase. This growth was driven by a 35% year-on-year increase in the core online insurance premium. Notably, the new protection premium, which includes health and term insurance, surged by 46%. The growth in new health insurance sales was an impressive 65%.
Quarterly insurance premium stood at Rs 6,616 crore, up 36% year-on-year. This robust growth in insurance premiums is a testament to the company's strong position in the insurance sector.
PB Fintech also reported a 43% year-on-year growth in renewal/trail revenue, with the quarterly renewal revenue reaching an annualized run rate (ARR) of Rs 673 crore. This reflects a 47% year-on-year increase, demonstrating the company's ability to retain customers and generate recurring revenue.
In the credit business, revenue for the quarter was Rs 102 crore. On a 12-month rolling basis, renewal/trail revenue grew by 43% to Rs 725 crore. Loan disbursals through PB Fintech's online platforms were Rs 2,095 crore.
However, the company's core credit revenue declined by 22% year-on-year. Despite this dip, the overall operating revenue rose 33% year-on-year to Rs 1,348 crore. Adjusted EBITDA margins improved from -12% to -6%.
PB Partners, the company's agent aggregator platform, operates with over 350,000 advisors across 19,000 pin codes in India. These new initiatives now contribute about 5% to consolidated revenues.
The company's growth since its public listing in November 2021 has been at a CAGR of 54%. PB Fintech's insurance premium in the UAE grew 68% year-on-year, indicating the company's successful expansion in international markets.
In a strategic shift, PB Partners has moved towards "smaller and higher quality advisors," aiming to strengthen its presence in the market and provide superior customer service.
These impressive financial results demonstrate PB Fintech's strong performance and growth in the digital financial services sector. The company continues to innovate and expand, providing a wide range of financial products and services to its customers.
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