PB Fintech had reported a loss of INR 21.1 Cr in the preceding September quarter, while its loss stood at INR 87.6 Cr in Q3 FY23
The fintech major’s operating revenue jumped 43% to INR 871 Cr in Q3 FY24 from INR 610 Cr in Q3 FY23
The parent of Policybazaar and Paisabazaar said its new initiatives vertical reached break-even on a contribution margin basis in Q3 FY24
PB Fintech, the parent company of insurtech platform Policybazaar, turned profitable in the December quarter (Q3) of the financial year 2023-24 (FY24). The company reported a profit after tax (PAT) of INR 37.2 Cr during the quarter under review, helped by a sharp growth in its insurance broking business and decline in costs.
The fintech major had reported a loss of INR 21.1 Cr in the preceding September quarter, while its loss stood at INR 87.6 Cr in Q3 FY23.