pb fintech: PB Fintech’s December quarter loss narrows to Rs 87.6 Crore

PB Fintech, which operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has narrowed its consolidated losses at Rs 87.6 crore for the quarter ended December 2022.

It had reported Rs 298-crore loss for the same period in the previous year. For the three-month period ending September, the loss stood at Rs 186.6 crore.

Consolidated income was Rs 678.9 crore during the period under review, a 69% increase from Rs 400.8 crore it had reported for the same period in the previous year.

On a sequential basis, consolidated revenue is up 7% .

For the nine-month period ending December, consolidated revenues stood at Rs 1,865.5 crore. The loss in the same period narrowed to Rs 478.59 crore compared to the year-ago period.

According to the company, insurance premiums for the group grew 70% on a yearly basis to Rs 3,028 crore in the December-end quarter. Credit disbursals were also up 57% year-on-year at Rs 3,021 crore for the December quarter.

Operating income for PB Fintech in the December-end quarter stood at Rs 610 crore. In a filing with BSE, PB Fintech said that it continues to look to deliver a full year of positive PAT (profit-after tax) in the next fiscal.

“We stay confident of being Adjusted EBITDA positive by Q4 this year and delivering the first full year of positive PAT in 2023-24,” said the regulatory filing.

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