PB Fintech Q2 preview: PAT may rise 145% YoY, rev 48%; GST impact in focus

PB Fintech Q2 results preview: Management commentary on the impact of the change in goods and services tax (GST) rate to nil on individual life and health insurance on take rate will be keenly watched

PB Fintech Q2 results preview: PB Fintech, the operator of PolicyBazaar, is slated to release its second quarter (Q2FY26) results on Wednesday, October 29, 2025.

PB Fintech Q2 results 2025: Profit estimates

Brokerages tracked by Business Standard estimate PB Fintech's net profit to increase 146 per cent year-on-year (Y-o-Y) on average, to ₹124.86 crore as compared to ₹50.85 crore. Sequentially, the net profit is expected to rise 48 per cent from ₹84.65 crore in Q1FY26.

PB Fintech Q2 results 2025: Revenue expectations

The company's revenue for the quarter under review is expected to rise 34 per cent in Q2FY26, on average, to ₹1,565.5 crore as compared to ₹1,167.2 crore a year ago. On a quarter-on-quarter (Q-o-Q) basis, the revenue is poised to gain 16 per cent from ₹1,348 crore in Q1FY26.

 

 

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

How do analysts expect PB Fintech to perform in Q2FY26?

Nuvama Institutional Equities: The brokerage anticipates strong core platform business premium growth of 35 per cent plus to drive existing business revenue growth. Margin is likely to improve as operating leverage kicks in. 

 

Analysts model net profit at ₹ 112.4 crore, as compared to ₹50.85 crore a year ago. Consolidated revenue is expected at ₹ 1,612.8 crore, as compared to ₹1,167.2 crore a year ago. Earnings before interest, tax, depreciation, and amortisation (Ebitda) is pegged at ₹ 121.9 crore, as compared to ₹56.2 crore a year ago.

 

JM Financial Institutional Securities: Analysts expect insurance premiums to grow 39.4 per cent Y-o-Y and 4.9 per cent Q-o-Q to ₹7,600 crore. Total disbursals are anticipated to increase by 10.9 per cent Q-o-Q to ₹7,769 crore from ₹7,003 crore in Q1FY26.

 

On a consolidated basis, revenue is expected to grow 34.2 per cent Y-o-Y to ₹1,566.3 crore, led by 37.3 per cent growth in Policybazaar and 11.8 per cent growth in Paisabazaar. Ebitda margin is likely to improve 535 basis points (bps) Y-o-Y to reach 4.7 per cent, leading to Ebitda profit of ₹73.4 crore.

 

Adjusted Ebitda is expected to reach 8 per cent in Q2 to ₹125.9 crore, 326 bps Y-o-Y improvement, as compared to ₹55.7 crore. 

 

B&K: Some weakness in PB Fintech could be seen due to the transient slowdown in insurance, but they will be meaningfully less impacted versus the agency channels. The brokerage expects the company to report an adjusted net profit of ₹155.9 crore, up 206.3 per cent Y-o-Y. The revenue is expected at ₹ 1,517.4 crore, and the Ebitda margin at 6.5 per cent.