SUMMARY
- PB Fintech reported a consolidated net profit of Rs 50.98 crore in Q2 FY25.
- PB Fintech’s operational revenue increased by over 43% YoY to Rs 1,167.2 crore in Q2 FY25.
- Its total operating expenses surged over 30% YoY in Q2 FY25 to Rs 1,213.4 crore.
Policybazaar’s parent company, PB Fintech, reported a consolidated net profit of Rs 50.98 crore in Q2 FY25 improving from a loss of Rs 21.11 crore in Q2 FY24.
However, profits saw a 15% decline from Rs 59.98 crore in the June quarter of FY25. This marked the fourth consecutive quarter of profitability for PB Fintech.
PB Fintech’s operational revenue increased by over 43% YoY to Rs 1,167.2 crore in Q2 FY25, compared to Rs 811.6 crore in Q2 FY24. Sequentially, it grew by 15% from Rs 1,010.5 crore in Q1 FY25.
The company attributed the rise in revenue to consistent growth in sales and better margins. The core online businesses, including Policybazaar and Paisabazaar, contributed Rs 767 crore (28% YoY) to the group’s operating revenue in Q2 FY25, while the revenues from the company’s new initiatives arm increased by 87% YoY to Rs 400 crore.
PB Fintech’s total adjusted EBITDA profitability further improved by 4.3X to Rs 56 crore in the quarter under review from to Rs 13 Cr in Q2 FY24.
Its total insurance premium income reached Rs 5,450 crore in Q2 FY25, an increase of 57% YoY, driven by broad-based growth across the health and life insurance segments.
In its regulatory filing with the BSE, the company noted that it distributed loans amounting to Rs 4,237 crore in Q2 FY25 and issued 1.46 lakh cards.
“Our core health and life insurance businesses are growing ahead of expectations. In anticipation of this steady growth, we have invested ahead of sales in operating expenses which we expect will pay back in the second half of the year,” the company stated in its earnings report.
PB Fintech’s total operating expenses surged over 30% YoY in Q2 FY25 to Rs 1,213.4 crore from Rs 930.22 Cr in the year-ago period. This increase was primarily due to a significant rise in “other expenses,” which increased by 77%.
The fintech‘s employee benefits expenses rose by 20% YoY to Rs 507.57 crore in the September quarter up from Rs 422.84 crore in Q2 FY24.
The company spent Rs 278 crore in advertising and promotional activities in Q2 FY25, an increase of over 12% from Rs 247.36 crore in the year-ago period.
The company allocated Rs 355.23 crore to other expenses in Q2 FY25 up from Rs 200.48 crore in Q2 FY24.
