PB Fintech logs net profit of ₹60 Crore in Q1FY25

7 Aug 2024 , 03:06 PM

In the June quarter, PB Fintech reported a net profit of ₹60 Crore, up from a loss of ₹11.9 Crore the previous year. The company’s revenue from operations increased by 51.8%, reaching ₹1,010.5 Crore from ₹665.6 Crore in the previous fiscal year.

Adjusted EBITDA increased from ₹23 Crore to ₹49 Crore in the first quarter of this fiscal. The adjusted EBITDA margin was 5% in the reporting quarter, up from 3% in the same period last fiscal year. 

In the June quarter, PB Fintech reported a total insurance premium of ₹4,871 Crore, with a 78% YoY growth in the new health and life insurance businesses. The new core online insurance price has increased by 66%.

The company’s renewal/trail revenue increased to ₹559 Crore from ₹418 Crore in the same quarter last year, with margins above 85%, resulting in considerable profit growth.

Customer onboarding and claims support services have improved, and insurance customer satisfaction (CSAT) now stands at 89.9%. While credit growth slowed, adjusted EBITDA has remained positive since December 2022.

PB Fintech disbursed ₹3.1 lakh Crore in loans and issued over 1.3 lakh credit cards, serving a credit score client base of around 46 million.

At around 12.03 PM, PB Fintech was trading 6.39% higher at ₹1,526.60 per piece, against the previous close of ₹1,434.85 on NSE. The counter touched an intraday high and low of ₹1,551.95, and ₹1,432, respectively.

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