PB Fintech Q3 results preview: PAT may jump 99%; margins to pickup

PB Fintech Q3 results preview: Management commentary on the impact of the change in GST rate to nil on individual life and health insurance on the take rate shall be keenly watched

PB Fintech Q3 results preview: PB Fintech, the operator of PolicyBazaar, is slated to release its third quarter (Q3FY26) results on Monday, February 2, 2026.

 

Brokerages tracked by Business Standard estimate PB Fintech's net profit to average ₹142.26 crore, compared to ₹71.5 crore a year ago, up 99 per cent year-on-year (Y-o-Y). However, sequentially, the profit after tax (PAT) is expected to rise 5 per cent from ₹134.9 crore in Q2FY26.

 

The company's revenue for the quarter under review is expected to climb 19 per cent in Q3FY26, on average, to ₹1,538.26 crore as compared to ₹1,291.6 crore a year ago. However, on a quarter-on-quarter (Q-o-Q) basis, the revenue is poised to rise 5 per cent from ₹1,613.6 crore in Q2FY26.

 

 

Management commentary on the impact of the change in goods and services (GST) rate to nil on individual life and health insurance on the take rate shall be keenly watched.

PB Fintech Q3 results expectations:

JM Financial Institutional Securities: In PB Fintech, as insurance industry data from Q3 suggested, there has been a sharp pickup in retail health and term, according to analysts. They expect new business premiums in the early 30s, whereas renewals shall sustain strength, leading to 39 per cent Y-o-Y growth in online insurance premiums. 

 

New initiatives’ premium is likely to grow 21 per cent sequentially, led by PB partners. Paisabazaar is likely to report a decent quarter sequentially with 21 per cent Q-o-Q online disbursals growth due to the festive. season; however, new initiatives will grow 10 per cent Q-o-Q. Contribution margin is likely to be muted due to a higher mix of health. 

 

Analysts peg Earnings before interest, tax, depreciation and amortisation (Ebitda) for Q3 at ₹1,56 crore, compared to ₹27.7 crore Y-o-Y. 

 

Nuvama Institutional Equities: The brokerage expects margin to pick up as operating leverage kicks in. Consolidated Ebitda is expected at ₹140 crore, compared to ₹27.7 crore a year ago.

 

Nuvama pegs the net profit for the quarter at ₹174.2 crore, compared to ₹71.5 crore a year ago. Revenue is likely to come in at ₹1,602.9 crore, up 24 per cent Y-o-Y.

 

B&K: PB Fintech is likely to continue its trajectory of healthy topline growth, coupled with improving performance in terms of bottom line. 

 

The brokerage expects the consolidated net profit to come in at ₹72.2 crore, as compared to ₹71.5 crore a year ago. The revenue is pegged at ₹ 1,228 crore, as compared to ₹1,291.6 crore a year ago. 

 

Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised.