Q1 results: PB Fintech loss widens to ₹204 crore

PTI | | Updated on: Aug 11, 2022
Credit disbursal on Paisabazaar more than doubled to ₹2,320 crore from ₹984 crore on year-on-year basis

Credit disbursal on Paisabazaar more than doubled to ₹2,320 crore from ₹984 crore on year-on-year basis | Photo Credit: Andrii Yalanskyi

PB Fintech, the parent firm of online insurance broker Policybazaar, had posted a loss of ₹110.84 crore in Q1 FY22

PB Fintech, the parent firm of online insurance broker Policybazaar, on Wednesday reported a widening of consolidated loss to ₹204.33 crore in the first quarter ended June 30, 2022, according to a BSE filing.

The company had posted a loss of ₹110.84 crore in the same period a year ago.

The consolidated revenue from operations of PB Fintech more than doubled to ₹505.18 crore during the reported quarter from ₹237.73 crore in the June 2021 quarter.

The company in its financial performance report said that its insurance premium segment grew by 52 per cent to ₹2,430 crore in June 2022 quarter from ₹1,594 crore in the June 2021 quarter.

"We are at an annual run rate of insurance premium of over ₹9,700 crore growing 52 per cent YoY," the company said.

PB Fintech said that credit disbursal on its Paisabazaar platform more than doubled to ₹2,320 crore from ₹984 crore on year-on-year basis.

"We are now at the run rate of ₹11,200 crore disbursal and 4.3 lakh credit card issuance on an annualised basis," PB Fintech said.

Published on August 11, 2022
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