PB Fintech net profit up 92% in Q1 of FY27
PB Fintech is parent company of PolicyBazaar PB Fintech reported healthy growth in the insurance premium business and credit segment PB Fintech, the parent company of online insurance platform PolicyBazaar registered a 92% rise in net profit for the first quarter of FY27 and revenues rose by 40%
In the first quarter of FY27, PB Fintech, the parent company of insurance platform PolicyBazaar, reported a substantial 92% increase in net profit, reaching Rs 163 crore. This represents a significant jump from Rs 85 crore in the same period last year. Revenue also saw a notable 40% rise, amounting to Rs 1,888 crore, up from Rs 1,348 crore in the first quarter of FY26.
The company's core online new protection business, comprising insurance and health insurance, grew by 53% year-on-year, while the new health insurance segment saw a remarkable 59% YoY increase. The total insurance premium reached Rs 8,372 crore, a 41% YoY growth. Core credit revenue was reported at Rs 127 crore, showing a 25% YoY growth, with disbursements increasing by 33% to Rs 2,776 crore.
PB Fintech currently has 158.9 million registered consumers and 28.1 million transacting consumers. The company is focused on enhancing customer onboarding and claims support services, with an insurance customer satisfaction score exceeding 90%. They have over 500,000 advisors on their platform, with a shift towards smaller and higher quality advisors. The active partner count grew by 55% YoY, reaching 1.13 lakh.
Overseas operations in the UAE recorded a 31% YoY growth in insurance premium, with a continued profit trend. This segment remains profitable for FY26 and for the first quarter of FY27.
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