PB Fintech on Monday reported net consolidated loss for the quarter ended March 8.95 crores. The company reduced its net loss from 219.60 crore in the same quarter a year ago.
Revenue from operations increased by 60.85 percent 869.09 crore in the quarter under review. 540.29 crore in the year-ago period, the company said in an exchange filing.
The company said it stood at ‘break even and consolidated adjusted EBITDA 28 crores for the quarter ending March 2023.
“As we previously guided about breaking even in Q4, we are pleased to announce that we did break even and our consolidated adjusted EBITDA was a positive. 28 Cr for Q4 which is 3% EBTIDA margin, an improvement from minus 80 crore (-15% margin) over the same quarter last year. Just to reiterate here, our existing businesses which include Policybazaar and Paisabazaar, which are insurance and credit marketplaces respectively, have been adjusted EBITDA positive for over a year with Paisabazaar individually being EBITDA positive from December 2022 Has gone,” PB Fintech said in its filing.
In total business, insurance premium grew 65% year-on-year 3,586 crore and were on credit disbursement 3,358 crore, up 53% year-on-year.
In existing business, operating revenue grew 31% year-over-year 504 crore with the contribution margin coming in at 44%. core business adjusted EBITDA was 64 crore during the March quarter.
Business growth in Q4 was driven by renewal income, which is at ARR (annualized run rate) 388 crores, and higher efficiency and increase in new business.
In credit business, the run rate of the company is Disbursement of Rs 15,000 crore and issuance of 5.3 lakh credit cards on an annual basis. Nearly 35 million customers have accessed their credit scores on its platform.
The company’s stock closed down by 1.76 per cent. 618.75 on BSE.
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