The fintech’s operating revenue increased by 32% YoY to Rs 666 crore during the reporting period, compared to Rs 505 crore in the corresponding quarter of the previous year.
The consolidated adjusted EBITDA for the first quarter was a positive Rs 23 crore, a significant improvement from a negative of Rs 66 crore in the same quarter last year.
The operating revenue of Policybazaar and Paisabazaar, classified as the core online business, increased by 39% YoY to Rs 516 crore in the June quarter, with contribution margins improving to 45%.
In the core online business, the new insurance premium for protection (Health + Term) grew by 40% sequentially. The core business’s adjusted EBITDA increased to Rs 69 crore, up from Rs 5 crore in the previous year. The adjusted EBITDA margin also rose to 13%.
The trail revenue reached an ARR (annualized run rate) of Rs 418+ crore, compared to Rs 273 crore in the same quarter last year. This segment operates at over 85% margins and is a significant source of profit growth.
The company has made consistent improvements in customer onboarding, service, and claims support, maintaining a CSAT (customer satisfaction) score of 88%.
In the credit business, PB Fintech achieved an ARR of Rs 16,000 crore disbursal and 5.8 lakh credit card issuances on an annualized basis as of July 2023. About 36.9 million customers accessed credit scores on its platform, with 75% of disbursals coming from existing customers. The trail revenue now accounts for 14% of the total credit business revenue.
The new initiatives business recorded an operating revenue of Rs 149 crore, an 11% increase from the previous year, and losses were reduced to Rs 46 crore during the June quarter.
On Monday, the company’s shares closed 1.73% higher at Rs 794.50 on NSE.