PB Fintech Profit Jumps Nearly Fivefold in Q1

PB Fintech, parent of Policybazaar and Paisabazaar, reported a nearly fivefold year-on-year rise in net profit to Rs 85 crore for the June quarter, driven by robust growth in health insurance premiums and a strategic shift to secured lending. Consolidated operating revenue increased 33% to Rs 1,348 crore, with total insurance premiums reaching Rs 6,616 crore, including a 65% surge in new health insurance business. Renewal revenue grew 43%, and the company maintained profitability for the seventh straight quarter. UAE operations contributed significantly, with insurance premiums rising 68% year-on-year. The decline in unsecured lending was attributed to regulatory tightening, but overall lending disbursals increased 123% due to a focus on secured loans. PB Fintech continues to invest in new initiatives, which saw about 50% year-on-year revenue growth, while analysts maintain a 'Hold' rating, citing increasing digital adoption in India's insurance sector.