The parent company of insurtech platform Policybazaar had reported a net loss of INR 11.9 Cr in the year-ago quarter
PB Fintech, which turned profitable in Q3 FY24, posted a profit of INR 60.2 Cr in Q4 FY24
Operating revenue rose 51.8% to INR 1,010.5 Cr in Q1 FY25 from INR 665.6 Cr in the year-ago quarter
PB Fintech, the parent company of insurtech platform Policybazaar, posted a consolidated net profit of INR 59.98 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25) as against a loss of INR 11.9 Cr in the year-ago quarter, led by robust growth across business segments.
The startup reported its maiden profitable quarter in Q3 FY24, posting a net profit of INR 37 Cr. Its profit stood at INR 60.2 Cr in Q4 FY24.
PB Fintech’s operating revenue jumped 51.8% to INR 1,010.5 Cr in Q1 FY25 from INR 665.6 Cr in the year-ago quarter. However, it declined 7.2% from INR 1,089.6 Cr in Q4 FY24.
Adjusted EBITDA stood at INR 136 Cr in the quarter ended June 30, 2024 as against an adjusted EBITDA loss of INR 30 Cr in the year-ago period.
(The story will be updated soon)
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