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PB Fintech profit nearly doubles in Q1 as insurance premium rises
Q1FY27 net profit rose 92% to ₹163 crore, while total insurance premium grew 41% YoY to ₹8,372 crore.
PB Fintech, the parent of PolicyBazaar and Paisabazaar, reported a consolidated net profit of ₹163 crore for Q1FY27, up 92% from ₹85 crore a year earlier, after posting results for the June quarter following market hours on August 5, according to LiveMint Markets.
Revenue from operations increased 40% year on year to ₹1,888 crore, but both revenue and profit fell sequentially from the March quarter, with net profit down from ₹261 crore and revenue down from ₹2,061 crore.
In the insurance business, total premiums rose 41% YoY to ₹8,372 crore, driven by a 53% YoY jump in core online new protection, with health and term insurance supporting core insurance revenue growth of 46% YoY to ₹1,194 crore.
On the platform side, PolicyBazaar supported nearly 70,000 health insurance claims during the quarter and maintained a CSAT score above 90%, while the company said it has served 158.9 million registered consumers and facilitated 71.6 million insurance policies, with 28.1 million transacting customers.