PB Fintech Q4, Profit rises 62% QoQ to Rs 60.2 Cr

PB Fintech, the parent company of insurtech platform Policybazaar, reported a consolidated net profit of Rs 60.2 crore in the fourth quarter (Q4) of the financial year 2023-24 (FY24), compared to a loss of Rs 9.3 crore in the same quarter of the previous year.

The company became profitable in the previous quarter, which is Q3 FY24. In the fourth quarter, the profit of PB Fintech increased by almost 62% on a quarter-on-quarter (QoQ) basis, reaching Rs 37.2 Cr from the previous quarter's Rs 37.2 Cr. The growth across its business segments was the major contributing factor to the increase in profit.

PB Fintech's operating revenue witnessed a rise of over 25% on both QoQ and year-on-year (YoY) basis, reaching Rs 1,089.6 Cr in Q4 FY24.