PB Fintech, the parent company of Policybazaar, reported sharp narrowing of losses in the fourth quarter at Rs 8.9 crore. The company had posted a loss of Rs 220 crore in the fourth quarter of last year and Rs 87 crore in the December quarter.
Revenue from operations jumped 61% year-on-year to Rs 869 crore for the January-March period. The same stood at Rs 540 crore in the corresponding period of last year.
The company said it has turned break even at the operating level for the quarter.
Of the total business, insurance premiums grew 65% year-on-year to Rs 3,586 crore and credit disbursals were at Rs 3,358 crore, up 53% year-on-year.
In the existing business, operating revenue grew 31% year-on-year to Rs 504 crore with contribution margins coming at 44%. Core business adjusted EBITDA was Rs 64 crore during the March quarter.
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