PB Fintech Q3 Results: Net Profit Jumps 88% to Rs 71.54 Crore, Driven by Insurance Growth
PB Fintech, the operator of online insurance aggregator Policybazaar and credit marketplace Paisabazaar, has reported an 88% year-on-year increase in its consolidated net profit for the third quarter of fiscal year 2025 (Q3 FY25). The company's strong performance was primarily driven by a significant jump in its insurance broker services segment.
Financial Performance Overview
For the quarter ended December 31, 2024, PB Fintech reported a consolidated net profit of Rs 71.54 crore, up from Rs 37.96 crore (adjusted for YoY comparison) in the same period last year. Revenue from operations rose by 48% to Rs 1,292 crore, led by a 62% surge in insurance broker services, the company's largest segment.
Key Financial Highlights
- Consolidated Net Profit: Increased by 88% to Rs 71.54 crore from Rs 37.96 crore (adjusted for YoY comparison) year-on-year.
- Revenue from Operations: Rose by 48% to Rs 1,292 crore year-on-year.
Insurance Business Performance
PB Fintech's insurance premium grew by 44%, primarily fueled by a 47% growth in new health and life insurance premiums. Analysts attribute the company's continued success to the increasing demand in India's largely untapped insurance policy aggregator sector, supported by improving financial awareness and income levels.
Credit Business Performance
The company's credit business, which operates under the Paisabazaar brand, faced a slowdown following the Indian central bank's crackdown on unsecured lending. Disbursal in the online credit business declined by 20% year-on-year, with revenue from the segment dropping by 18%. However, total lending disbursal rose by 52%, driven mainly by the new secured credit business launched in the previous quarter.
PB Fintech's Q3 FY25 results highlight the company's strong growth trajectory, particularly in its insurance business. While the credit segment faced headwinds, the overall performance demonstrates the company's ability to capitalize on the growing demand for insurance products in India.
Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.
0 comments:
Post a Comment