PB Fintech surges 13%, hits 2-year high on first quarterly profit in Q3

Shares of PB Fintech, the parent of online insurance aggregator Policybazaar, hit a two-year high of Rs 1,032.95, as they rallied 13 per cent on the BSE in Wednesday's intra-day trade after the company posted a net profit of Rs 37 crore in December 2023 (Q3FY24) against a net loss of Rs 87 crore a year ago. The company reported its first quarterly profit since listing, as growing demand for insurance boosted revenue.

The stock of a fintech company was trading at its highest level since January 2022. It had hit a record high of Rs 1,470 on November 17, 2021.

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