PAT Soars 92% YoY to ₹72 Cr, Revenue Jumps 48% YoY; New Health & Life Insurance Premium Up 47% YoY
Gurugram, India, January 30, 2025 – PB Fintech Limited, the parent company of Policybazaar and Paisabazaar, has reported strong financial performance for Q3 FY25, with significant growth in both revenue and profitability. The company’s profit after tax (PAT) surged 92% YoY to ₹72 crore, while operating revenue rose 48% YoY to ₹1,292 crore, driven by a sharp increase in insurance premium collections.
Key Financial Highlights (Q3 FY25 vs. Q3 FY24)
Metric
Q3 FY25
Q3 FY24
YoY Growth
Total Revenue
₹1,292 Cr
₹871 Cr
+48%
Total Insurance Premium
₹6,135 Cr
₹4,261 Cr
+44%
Core Online Insurance Premium Growth
+44%
-
-
New Health & Life Insurance Premium Growth
+47%
-
-
Credit Revenue
-18% YoY
-
-
Renewal Revenue (ARR)
₹665 Cr
₹454 Cr
+46%
PAT
₹72 Cr
₹37 Cr
+92%
Cash Reserves
₹5,473 Cr
₹5,123 Cr
+7%
Business Performance Overview
Insurance Business: Strong Growth in New Premiums
PB Fintech’s core insurance business, led by Policybazaar, continues to expand significantly:
Total insurance premium rose 44% YoY to ₹6,135 crore, driven by robust growth in health and life insurance.
New Health & Life Insurance Premium increased by 47% YoY, outpacing other segments.
Renewal/Trail revenue is now at an annual run rate (ARR) of ₹665 crore, up 46% YoY from ₹454 crore, ensuring a steady stream of future income.
Customer Satisfaction (CSAT) score improved to 90.2%, reflecting improved onboarding and claims support.
Credit Business: Secured Loans Gain Traction Amid Unsecured Slowdown
While unsecured credit disbursal declined 20% YoY, the secured credit segment grew to ₹2,570 crore in disbursals, generating ₹24 crore in revenue.
Paisabazaar's core credit business remains EBITDA-positive, despite headwinds in the unsecured lending sector.
Over 70% of loans disbursed were to repeat customers, highlighting strong brand trust.
Credit Score Consumer Base: Paisabazaar now serves 49.4 million consumers who have accessed their credit scores on the platform.
New Initiatives: Rapid Growth and Improved Profitability
Revenue from new initiatives, including PB Partners, PB UAE, and secured credit distribution, grew 87% YoY.
Adjusted EBITDA margin for new initiatives improved from -13% to -7%, with revenue contribution increasing.
PB Partners, the agent aggregator platform, now has 270,000 advisors and operates in 18,900 pin codes, covering 99% of India.
PB UAE’s insurance premium grew 58% YoY, with increasing focus on health and life insurance.
Strategic Developments and Corporate Actions
Postal Ballot for IPO Fund Reallocation
PB Fintech has proposed a shareholder vote via postal ballot to alter the objectives and extend the timeline for utilizing funds raised in its Initial Public Offering (IPO).
The company had raised ₹3,612 crore in its November 2021 IPO, with ₹858 crore still unutilized as of December 31, 2024.
Expansion in UAE and Tier 2 & 3 Cities
The company is expanding its offline presence and customer service capabilities in Tier 2 & 3 cities, recognizing their growing contribution to the insurance sector.
Policybazaar UAE is gaining market share, replicating its India model with strong growth in health and life insurance.
Technology & AI-Led Innovations
PB Fintech continues investing in AI-based fraud detection, automated claim processing, and risk assessment tools to enhance underwriting efficiency and reduce fraud risk.
The company launched PB Money, a Personal Financial Management (PFM) tool, to help customers track income, expenses, and credit health.
Management Commentary
"Our insurance business continues to scale rapidly, with robust growth in new health and life insurance premium. The transition to secured lending in our credit business is progressing well, despite industry-wide challenges in unsecured loans. We remain committed to enhancing customer trust, strengthening our platform capabilities, and investing in innovation to drive sustainable, long-term growth," the company stated in its earnings release.
Future Outlook
PB Fintech remains optimistic about its long-term growth trajectory, with a strong focus on:
Expanding secured credit business to offset the slowdown in unsecured lending.
Strengthening Tier 2 & 3 penetration, particularly in insurance.
Further scaling its UAE operations, aligning them with the India model.
Enhancing AI-driven fraud detection and underwriting processes to improve claim ratios and profitability.
Driving customer retention through improved renewal revenues and better user experience.
