PB Fintech Q2 profit surges 165% on strong insurance growth, improved margins

PB Fintech, the parent of insurance marketplace Policybazaar and credit platform Paisabazaar, on Monday reported a 165% jump in second-quarter profit, driven by strong growth in its insurance business and improved operating margins.Consolidated net profit rose to ₹135 crore in the July–September quarter from ₹51 crore a year earlier. Revenue from operations climbed 38.2% year-on-year to ₹1,613 crore from ₹1,167 crore, while EBITDA improved to ₹97.6 crore compared with a loss of ₹7.8 crore last year.

The company said total insurance premium grew 40% year-on-year to ₹7,605 crore, led by a 44% jump in online new protection business and a 60% rise in health insurance. Renewal and trail revenue, a key profitability driver, rose 39% year-on-year to ₹774 crore on a 12-month rolling basis.

PB Fintech’s core insurance revenue rose 36% year-on-year, while credit revenue fell 22% but showed signs of recovery with 4% sequential growth. The firm’s insurance customer satisfaction score held steady at 90.5%, underscoring consistent service quality.The company said its agent aggregator platform, PB Partners, strengthened its leadership with more than 380,000 advisors across 19,000 pin codes, covering 99% of India’s postal network and driving expansion in smaller towns.

Its UAE business, which focuses on health and life insurance, reported a 64% year-on-year rise in premiums and remained profitable for a third straight quarter.

PB Fintech, backed by investors such as SoftBank and Tiger Global, said its consolidated profit margin improved to 8% from 4% last year.