Comments
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.
Related Stories
BankBazaar.com looks to raise $100 m for biz growth in 3 years: CEO
It has not achieved break-even on EBITDA levelThe 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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.