PB Fintech Q3 results: PB Fintech, the parent company of Policybazaar and Paisabazaar reported Q3 Results on February 10, 2023. The company reported its consolidated loss for the December quarter of FY23 narrowed to Rs 87 crore from Rs 298 crore in the same quarter of the previous year.
The company reported its revenue from operations increased 66% YoY to Rs 610 crore.
Highlights of PB Fintech Q3 Results
| Segments | Q3FY23 | Q3FY22 |
| Revenue from Operations | 610 crores | 367 crores |
| Net loss for the Quarter | 87 crores | 298 crores |
| Adjusted EBITDA | (28 crores) | (91 crores) |
| EBITDA margin | -5% | -25% |
Revenue from Operations (PB Fintech Q3 Results)
PB Fintech reported Its revenue from operations was up 66% YoY at Rs 610 crore. It was Rs 367 crore in the corresponding quarter of the previous year.
Existing business revenue grew 34% YoY to Rs 425 crore. Revenue from new initiatives was up 270% YoY at Rs 185 crore.
PB Fintech stock ended nearly 1.3% up on the NSE on Friday.
Net loss for the Quarter (PB Fintech Q3 Results)
PB Fintech reported a consolidated loss for the December quarter of FY23 narrowed by 71% to Rs 87 crore from Rs 298 crore in the corresponding quarter of the previous year.
Adjusted EBITDA (PB Fintech Q3 Results)
PB Fintech reported a negative Adjusted EBITDA (non-GAAP) for the December quarter of FY23 narrowed to Rs 28 crore from Rs 91 crore in the corresponding quarter of the previous year.
The core business adjusted EBITDA was at Rs 26 crore positive for the quarter, with credit business breaking even in December ahead of expectation of Q4FY23.
“This growth is driven by three things—growth of renewal income, growth of the new business, and higher efficiency in new business,” said PB Fintech.
EBITDA margin (PB Fintech Q3 Results)
The company reported an EBITDA margin of -5% improved from -25% Year on Year.
The core business EBITDA margin was 6% positive for the quarter.
“Our Existing Business adjusted EBITDA increased by 67 Cr for the quarter and 164 Cr for the 9 months of the year as compared to the same period last year. This growth is driven by three things – Growth of Renewal Income, Growth of New Business, and higher efficiency in New Business,” said PB Fintech.
Insurance segment (PB Fintech Q3 Results)
PB Fintech reported its insurance premium collection during the quarter under review was at Rs 3,082 crore, the highest for the year and up 70% from the year-ago period.
Company Outlook (PB Fintech Q3 Results)
“Digitization is becoming significant in lending – currently led by credit cards where around 75 percent of cards issued in Q3 were end-to-end digital… As the lending moves to more E2E digital, a digital marketplace with an improving experience like ours would stand to benefit,” said PB Fintech.
“Our Existing Business adjusted EBITDA increased by 67 Cr for the quarter and 164 Cr for the 9 months of the year as compared to the same period last year. This growth is driven by three things – Growth of Renewal Income, Growth of New Business, and higher efficiency in New Business,” said PB Fintech.
“This growth is driven by three things—growth of renewal income, growth of the new business, and higher efficiency in new business,” said PB Fintech.
Read more:
Adani Green Q3 Results: Profit more than doubles to Rs 103 crore YoY
Disclaimer: Views expressed in this content are strictly for educational purpose and do not provide any advice/tips on Investment or recommend any Buying or Selling any Stock. Admotag Finance neither take guarantee of profit nor stand responsible for any losses of any recipient. The recipient of this material should take their own professional advice before acting on this information.
1 thought on “PB Fintech Q3 Results: Loss narrows to Rs 87 crore, revenue jumps 66% YoY.”