PB Fintech Q1 Results: Policybazaar parent's profit soars 92% to Rs 163 crore as insurance premium grows 41%
PB Fintech reported a 92% year-on-year (YoY) rise in profit after tax for the June quarter, helped by strong growth in insurance premium, higher operating
PB Fintech reported a 92% year-on-year (YoY) rise in profit after tax for the June quarter, helped by strong growth in insurance premium, higher operating revenue and better margins. The Policybazaar parent posted consolidated profit after tax of Rs 163 crore in Q1FY27, compared with a PAT margin of 6% in the same quarter last year. PAT margin improved to 9% in the June quarter.Operating revenue rose 40% YoY to Rs 1,888 crore. The company said total insurance premium grew 41% YoY to Rs 8,372 crore. Growth was led by the protection business, which includes health and term insurance.
New protection premium rose 53% YoY, while new health insurance premium grew 59%.PB Fintech said its core online insurance premium grew 41% YoY in Q1FY27. Core new insurance premium, excluding the savings business, rose 48%. Including savings, core new insurance premium grew 39%.The company said growth, excluding the savings category, has stayed above 34% YoY for 13 straight quarters. Core insurance revenue rose 46% YoY during the quarter. The company also said its insurance customer satisfaction score remained above 90%, supported by improvements in customer onboarding and claims support.PB Fintech said its core renewal and trail revenue on a 12-month rolling basis stood at Rs 1,003 crore, up from Rs 725 crore in the same quarter last year.
This was a 38% rise, led by 55% growth in the insurance segment.Quarterly core insurance renewal revenue was at an annual recurring revenue run-rate of Rs 999 crore, up from Rs 673 crore in Q1 last year. The company said renewal revenue is a key driver of long-term profit growth.PB Fintech’s total lending disbursal for the quarter stood at Rs 4,366 crore. Core lending disbursal rose 33% year-on-year to Rs 2,776 crore. Core credit revenue increased 25% year-on-year to Rs 127 crore.The company said core credit disbursal and revenue have grown for four straight quarters.
New initiatives business continued to grow, with Q1FY27 revenue rising 35% YoY. Adjusted EBITDA margin in new initiatives improved to negative 5% from negative 6% a year earlier. Contribution margin stood at 7%.PB Partners, the company’s agent aggregator platform, remained a key part of the new initiatives business. It had more than 5 lakh advisors, while active partner count rose 55% year-on-year to 1.13 lakh in Q1FY27.
The BriefWire