PB Fintech, the parent company of insurance platform Policybazaar and credit marketplace Paisabazaar, reported consolidated losses of Rs 186.6 crore in the July-September quarter, a decrease from the previous quarter’s loss of Rs 204.3 crore.
The group’s total revenue increased to Rs 633.8 crore in the quarter, up from Rs 552.6 crore in the previous quarter ended June 30. The operating revenue increased to Rs 573 crore. Half-year losses, on the other hand, increased to Rs 391 crore, more than 24% higher than the Rs 315.2 crore loss in the first half of the previous fiscal year. The half-year revenue more than doubled to Rs 1,186.5 crore, up from Rs 558.2 crore in the same period of FY21. Insurance premiums stood at Rs 2,545 crore in the three months ending September, up 79% year on year (yoy), with credit disbursals increasing to Rs 2,922 crore, the company said in an exchange filing on Monday.