PB Fintech Q3: Net profit jumps 165% to ₹189 crore on strong insurance premium growth

PB Fintech Ltd, the parent company of Policybazaar and Paisabazaar, on Monday (February 2) reported a net profit of ₹189 crore for the quarter, up from ₹71 crore in the same period last year.

PAT margin expanded from 6% in Q3FY25 to 11% in Q3FY26, with PAT accounting for 2.38% of total insurance premiums. Revenue for the quarter grew 37% year-on-year to ₹1,771 crore from ₹1,291 crore a year earlier.

Total insurance premium for the quarter stood at ₹7,965 crore, registering a 45% year-on-year and 17%

quarter-on-quarter increase. Growth was led by the core online new protection segment, where premiums rose 68% YoY, with new health insurance premiums up 79% YoY. Core online insurance premium grew 44% YoY during the quarter.

Also Read: PB Fintech board to consider QIP fundraise on February 5

In the lending segment, total disbursals rose 84% YoY to ₹9,986 crore. Core online disbursals increased 8% on a sequential basis. Credit revenue for the quarter stood at ₹115 crore, while disbursals for the core online credit business were ₹2,470 crore. Core insurance revenue increased 42% YoY, while core credit revenue continued its sequential improvement with an 8% QoQ rise.

Core renewal and trail revenue on a 12-month rolling basis rose to ₹841 crore from ₹608 crore a year earlier, a growth of 38%, led by 60% growth in the insurance segment. Quarterly core insurance renewal revenue stood at an annualised run rate of ₹863 crore, compared with ₹538 crore in Q3 last year.

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Growth in core new insurance premium, net of the savings business, accelerated to 56% YoY in the quarter. Including savings, core new insurance premium grew 36% YoY. Excluding the savings category, the company has delivered growth in the range of 34-56% over the past 11 quarters. Customer experience metrics remained strong, with insurance customer satisfaction scores consistently above 90%, supported by improvements in onboarding and claims support services.

New initiatives continued to gain traction, with revenue growth of 41% YoY. Adjusted EBITDA margin in this segment improved from -7% to -3%, with a contribution margin of 6%. PB Partners, the company’s agent aggregator platform, strengthened its leadership position, scaling to over 400,000 advisors.

The platform increased its focus on smaller and higher-quality advisors, remained diversified across business lines, and expanded its presence to 19,000 pin codes, covering 99% of pin codes in India and driving growth in tier-4 and tier-5 towns.

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International operations also posted a strong performance. Insurance premiums in the UAE business grew 62% YoY, with a strategic shift towards health and life insurance, in line with the India business. The UAE operation, which offers cross-border health insurance products and a claims assurance programme for motor insurance, remained consistently profitable for the fourth consecutive quarter.

Shares of PB Fintech Ltd ended at ₹1,562.35, down by ₹55.65, or 3.44%, on the BSE today, February 2.

Also Read: PB Fintech board to consider QIP fundraise on February 5