PB Fintech share price tanks 7% ahead of September quarter results

Shares of PB Fintech, the owner of PolicyBazaar and a leading financial technology (fintech) company, dropped 6.64 per cent to Rs 1,600.65 on the NSE during Tuesday's intra-day trading. The decline in stock price came ahead of the company's announcement of its financial results for the second quarter of the current fiscal year, scheduled for today.

 

According to a brokerage report compiled by Business Standard, PB Fintech is estimated to report a 35.15 per cent year-on-year (Y-o-Y) surge in revenue to Rs 1,096.9 crore, up from Rs 811.6 crore reported last year. On a quarter-on-quarter (Q-o-Q) basis, revenue is expected to grow 8.5 per cent due to the gradual recovery of unsecured personal loans. 

 

 

PB Fintech's profit after tax (PAT) for Q2FY25 is estimated to be Rs 40.2 crore on average, compared to a loss of Rs 20.2 crore last year. On a quarterly basis, PAT is expected to grow 110.4 per cent on average.

 

Established in 2008, PB Fintech Ltd operates PolicyBazaar and PaisaBazaar, India's prominent online insurance and lending platforms. PolicyBazaar enables users to compare and purchase insurance policies from multiple providers, while PaisaBazaar offers various credit products, including loans and credit cards. Headquartered in Gurgaon, PB Fintech facilitates easy access to financial services.  As of November 5, 2024, the company's market capitalisation stands at Rs 73,474.75 crore on the NSE.

  PB Fintech shares have a 52-week range of Rs 1,966.50-699.45 on the NSE.  The company's shares have yielded an impressive 101 per cent return to investors year-to-date.

 

On Tuesday, a combined total of approximately 0.11 million PB Fintech shares, worth around Rs 191.29 crore, changed hands on the BSE and NSE.  Meanwhile, the NSE Nifty50 benchmark equity index traded at 24,061.65, up 63.75 points or 0.27 per cent from its previous close.