PB Fintech reported a 43% rise in consolidated net profit to Rs 192.39 crore for the September quarter. Revenue grew 35% as demand for health and term insurance stayed strong. Total insurance premiums rose 38% to Rs 9,385 crore. The company said growth came from its core insurance marketplace business.
The growth was led by Policybazaar's insurance distribution business, where demand for health and term insurance remained strong. Total insurance premiums rose 38% to Rs 9,385 crore, with new protection premiums increasing 42%. New health insurance premiums grew 46% YoY.
Bengaluru: PB Fintech, the parent company of Policybazaar and Paisabazaar, reported a 43% year-on-year (YoY) increase in consolidated net profit to Rs 192.39 crore in the September quarter, driven by strong growth in its core insurance marketplace business and higher renewal income, even as the company continued investing in newer businesses. Net profit stood at Rs 134.89 crore a year earlier. Sequentially, profit increased 18% from Rs 162.91