PB Fintech, Policybazaar’s parent company reports Rs 186.6 crore in losses

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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.

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PB Fintech, Policybazaar’s parent company reports Rs 186.6 crore in losses

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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