PB Fintech, the parent company of Policybazaar and Paisabazaar, has reported an impressive 92% year-on-year (YoY) growth in net profit, reaching Rs 72 crore in Q3 FY25. The company’s strong financial performance was driven by significant growth in its insurance business, despite a slowdown in its credit segment.
Strong Growth in Insurance Premiums
PB Fintech’s total operating revenue rose by 48% YoY, reaching Rs 1,292 crore in the third quarter. The total insurance premium surged 44% YoY to Rs 6,135 crore, highlighting strong demand for health and life insurance policies.
The company saw:
- 44% growth in core online insurance premiums
- 47% increase in health and life insurance premiums
Additionally, renewal and trail revenue, which contributes to long-term profitability, grew 46% YoY to an annualized run rate (ARR) of Rs 665 crore.
Decline in Credit Business Revenue
While the insurance segment flourished, PB Fintech’s credit business faced an 18% decline in revenue YoY, reflecting a broader slowdown in the credit industry.
However, the new secured credit segment performed well, reporting Rs 2,570 crore in disbursals and Rs 24 crore in revenue during the quarter
Despite challenges, Paisabazaar continued to show strong customer retention, with over 70% of loan disbursals coming from existing customers. This demonstrates high trust and repeat usage of its credit services.
Customer Satisfaction on the Rise
PB Fintech also highlighted a significant improvement in customer experience. The company’s insurance customer satisfaction score (CSAT) reached 90.2% in Q3 FY25, indicating a positive response from policyholders.
The company remains optimistic about its insurance and credit segments and is expected to continue expanding its secured credit offerings to offset industry-wide challenges. With renewal revenue growing steadily and a loyal customer base, PB Fintech is well-positioned for sustained long-term growth.
