PB Fintech shares gain 3% after 9.7 mn shares change hands via block deals

As per reports, Tencent Cloud Europe was looking to sell a 2.1 per cent of its stake, which translates to 9.7 million shares of the company, via block deals on Thursday

PB Fintech shares gained 3.4 per cent in the morning deals on Thursday, August 29, and clocked an intraday high of Rs 1,796.55 per share on BSE. The stock, however, pared gains later.

The upmove in the stock price came after 9.7 million shares changed hands on the counter on the BSE via multiple block deals. The buyers and sellers were not ascertained immediately.

At around 9:22 AM, shares of PB Fintech were up 0.93 per cent or Rs 16.15 at Rs 1,753.25 per share. The market capitalisation of the company stood at Rs 80,763.66 crore.

As per reports, Tencent Cloud Europe was looking likely to sell its 2.1 per cent stake, amounting to 9.7 million shares of the company, via block deals today. The floor price for the deal was reportedly set at Rs 1,660.2 per share.

Earlier in June, Tencent Cloud Europe had sold 3.3 million shares at an average price of Rs 1,259.71 per share via a bulk deal on NSE.

PB Fintech Ltd, popularly known as PolicyBazaar, is an online platform for insurance and lending products. Its flagship brands include Policybazaar and Paisabazaar.

PB Fintech Q1FY25 result

PB Fintech reported a consolidated net profit of Rs 60 crore in the April-June quarter of FY25 as compared to a loss of Rs 11.41 crore in the year-ago period. The revenue of the company grew by 52 per cent to Rs 1,010 crore against Rs 666 crore in Q1 FY24.

The overall adjusted earnings before tax, interest, amortisation, and depreciation (Ebitda) margin improved from negative 31 per cent in Q1FY24 to 12 per cent in Q1FY25.

Growth in the credit business of the company during the quarter moderated with disbursals at Rs 3,140 crore against Rs 3,542 crore during the same period last year. The number of credit cards issued (on behalf of banks) during Q1 FY25 also dropped to 1.3 lakh from 1.4 lakh during the same period last year.

PB Fintech share price history

In the past one year, shares of PB Fintech have gained over 130.4 per cent as against Sensex's rise of 25.8 per cent.