PB Fintech, the parent company of Policybazaar and Paisabazaar, on July 31, reported a four times growth in net profit at Rs 85 crore in the June quarter of FY 26, aided by the strong performance of new health insurance premium, which grew by 65 percent.
The online insurance marketplace has been among the few new-age companies that have been reporting net profit for several (seven) quarters in a row.
PB Fintech’s revenue from operations grew 33 percent year-on-year to Rs 1,348 crore during the first quarter of the financial year. Its revenue stood at Rs 1,010 crore in Q1 of the previous year.
The Gurugram-based firm reported Rs 19 crore net profit during the corresponding quarter of the previous financial year. However, the company had a Rs 40 crore profit from an exceptional item during the June quarter of the last fiscal year.
During the quarter, PB Fintech’s total insurance premium stood at Rs 6,616 crore, with new core online insurance premium growing by 36 percent.
"We continue to strengthen our leadership in New Initiatives with revenue growth of about 50% year-on-year, with adjusted EBITDA margin moving from -12% to -6%, with 5% contribution,” the company said in the media statement.
However, the company's credit business under the Paisabazaar division has seen a 22 percent decline Y-o-Y, mostly owing to the general tightening of disbursals by banks after asset quality deterioration and several nudges from the regulator to reduce the exposure towards unsecured lending.
This has prompted PB Fintech to go after the secured credit business, which was started in Q2 FY25.
PB Fintech has seen its UAE insurance premium grow by 68 percent YoY with the business aligning more towards health and life insurance, similar to the company’s India business.
“We have unique value proposition of cross-border health insurance products and claims assurance program for motor insurance. This business is now consistently profitable for two quarters,” the company added in its statement.
During the third quarter of last fiscal, PB Fintech approved the foray into healthcare services by setting up a wholly-owned subsidiary PB Healthcare, which would look to generate its resources for growth and may attract private equity investors or other financial institutions.
The new entity will look to acquire 6-8 hospitals in the NCR region in partnership with other investment firms, Dahiya told Moneycontrol.
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