PB Fintech’s Q3 loss drops 70% year on year to INR 87.6 Cr; Paisabazaar adjusted EBITDA positive

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PB Fintech, the parent company of insurtech platform Policybazaar, reported a 70.6% year-on-year (YoY) drop in its consolidated net loss to INR 87.6 Cr in the December quarter of fiscal year 2022-23 (FY23), owing to strong growth across businesses.

In the same quarter last year, the startup reported a loss of INR 298 Cr. Meanwhile, its loss in Q3 was 53% lower than the INR 186.5 Cr reported in Q2 FY23. PB Fintech operating revenue increased by more than 66% to INR 610 Cr in Q3 FY23 from INR 367.3 Cr the previous quarter. It increased 6.4% sequentially from INR 573.5 Cr. PB During the quarter under review, Fintech’s existing businesses, Policybazaar and Paisabazaar, contributed INR 425 Cr to total operating revenue, representing a 34% increase year on year.

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PB Fintech’s Q3 loss drops 70% year on year to INR 87.6 Cr; Paisabazaar adjusted EBITDA positive

PB Fintech, the parent company of insurtech platform Policybazaar, reported a 70.6% year-on-year (YoY) drop in its consolidated net loss to INR 87.6 Cr in the December quarter of fiscal year 2022-23 (FY23), owing to strong growth across businesses.

In the same quarter last year, the startup reported a loss of INR 298 Cr. Meanwhile, its loss in Q3 was 53% lower than the INR 186.5 Cr reported in Q2 FY23. PB Fintech operating revenue increased by more than 66% to INR 610 Cr in Q3 FY23 from INR 367.3 Cr the previous quarter. It increased 6.4% sequentially from INR 573.5 Cr. PB During the quarter under review, Fintech’s existing businesses, Policybazaar and Paisabazaar, contributed INR 425 Cr to total operating revenue, representing a 34% increase year on year.

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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