PB Fintech's shares skyrocket 16%, hit all time high post Q1; check details

The stock price of PB Fintech surged up to 16.23 per cent, hitting its all time high at Rs 1664.35 per share on the BSE in Wednesday’s intraday trade. This came after the company reported a 52 per cent increase in revenues in the first quarter of financial year 2024-24 (Q1FY25).

On Tuesday, PB Fintech, the parent company of online marketplaces Policybazaar and Paisabazaar, announced a third consecutive profitable quarter for the April-June period, driven by an exceptional gain of Rs 41 crore from disinvestments through subsidiaries.

The insurance aggregator, reported a net profit of Rs 60 crore for the first quarter of the financial year 2024-25, compared to a loss of Rs 12 crore in the same period last year.

Consolidated revenue from operations surged by 52 per cent year-on-year to Rs 1,010 crore for the quarter, up from Rs 665.5 crore in Q1FY24.

The company's total insurance premium for the quarter was Rs 4,871 crore, driven by a 78 per cent year-on-year growth in new health and life insurance business, the company said in a statement. 

Renewal and trail revenue reached an annual recurring revenue (ARR) of Rs 559 crore, up from Rs 418 crore in the same quarter last year. This segment typically operates with margins exceeding 85 per cent and is a significant contributor to the company's profit growth.

“We continue to strengthen our leadership in New Initiatives with revenue growth of 131 per cent YoY with adjusted EBITDA margin moving from -31 per cent to -12 per cent. PB Partners, our agent aggregator platform, continues to lead the market in scale & efficiency of operations with more than 200k advisors,” the management said. 

The market capitalisation of PB Fintech is Rs 67,917 crore, according to Bombay Stock Exchange (BSE). At 09:56 AM; the share price of the company pared most of its gains and was up by 2.70 per cent at Rs 1470.50 per share on the BSE. By comparison, the BSE Sensex surged by 0.85 per cent to 79,260 levels. 

PB Fintech offers an online platform for insurance and lending products by harnessing technology, data, and innovation. The company specialises in providing online marketing, consulting, and technology services to insurance and lending partners.