Originals · Startup · Startups & Fintech
PB Fintech's Q2 profit rises 43% to Rs 192 Cr as insurance premium through Policybazaar grows 38%
The Gurugram company behind Policybazaar and Paisabazaar grew operating revenue 35% to Rs 2,178 Cr in the September quarter, while the insurance regulator weighs changes to the commissions its business depends on.
PB Fintech, the Gurugram company that runs insurance marketplace Policybazaar and credit marketplace Paisabazaar, reported a consolidated net profit of Rs 192.4 crore for the September quarter (Q2 FY27) on October 30, up 42.5% from Rs 135 crore a year earlier and 18% from Rs 163 crore in the June quarter, Inc42 reported. Operating revenue rose almost 35% year on year and 15% from the previous quarter to Rs 2,177.7 crore. Including other income of about Rs 100 crore, total income was Rs 2,277.6 crore, against total expenses of Rs 2,067.7 crore.
Total insurance premium on the platform grew 38% to Rs 9,385 crore, led by a 42% rise in new protection premium, which covers health and term policies, NDTV Profit reported. Revenue from the core insurance business rose 42%. Moneycontrol said the quarter was aided by the strong performance of new health and life insurance policies.
Lending was slower. Total lending disbursals were Rs 4,739 crore, with core disbursals up 22% to Rs 2,791 crore, and core credit revenue rose 19% to Rs 125 crore, according to NDTV Profit.
The numbers land while the Insurance Regulatory and Development Authority of India considers caps on the commissions earned by brokers and distributors, which Moneycontrol said could severely dent PB Fintech's growth and profitability. Entrackr reported earlier this month that PB Fintech's shares fell sharply after IRDAI's consultation paper on insurance commissions, and that BofA cut its price target on the stock by 19% while still expecting revenue growth of 31% for the quarter. The reported 35% came in ahead of that estimate.
