PB Fintech net profit jumps 165% in December quarter to Rs 189 crore, revenue up 37%

Q3 FY 26 results

• PB Fintech Q3 net profit surged 165% to Rs 189 crore, boosted by insurance growth.
• Insurance premiums rose 45%; health insurance premiums increased 79%.
• Paisabazaar credit disbursals grew 84 percent YoY, showing signs of recovery

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PB Fintech on February 2 reported a 165 percent growth in net profit at Rs 189 crore for the December quarter of FY 26, aided by the strong performance of new health and life insurance policies. The overall premium grew by 45 percent during the quarter.

The Gurugram-based online insurance marketplace had reported Rs 71 crore net profit during the corresponding quarter of the previous financial year.

PB Fintech’s revenue from operations grew 37 percent year-on-year (Y-o-Y) to Rs 1,771 crore during Q3. Its revenue stood at Rs 1,292 crore in Q3 of the previous year.

PB Fintech’s total insurance premium stood at Rs 7,965 crore, with new core online insurance premiums growing by 44 percent while new health insurance premiums grew by 79 percent.

However, the company's credit business under the Paisabazaar division, which had seen a downturn of late, is finally seeing green shoots of growth.

Paisabazaar has seen a 84 percent growth Y-o-Y and a 8 percent quarter-on-quarter growth in credit disbursals through the platform.

The high growth is a result of a low base last year after several financial institutions had tightened the disbursals during the last financial year, which is being relaxed gradually during the current fiscal.

During the last financial year, banks were also strictly monitoring asset quality, apart from several nudges from the regulator to reduce the exposure towards unsecured lending. The lending aggregator has since been expanding its secured lending portfolio with financial institutions.

This has prompted PB Fintech to pursue the secured credit business, which was launched in Q2 FY25, and the core credit business continues to be adjusted EBITDA positive since Dec 2022.