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PB Fintech, which runs Policybazaar, today announced its June quarter results in which its loss shot up to Rs 204.33 crore as against Rs 110.84 crore in the year-ago period. At the same time, fintech’s total consolidated revenue recorded a growth of 112 per cent to Rs 505.19 crore in Q1.
Its insurance premium grew 52 per cent YoY To Rs 2,430 crore, while credit disbursal grew 136 per cent YoY.
“Core business Adjusted EBITDA was 74 crore positive for the quarter (absorbing a 13 crore loss by the non-insurance business); thus, core insurance business had an Adjusted EBITDA of 18 Cr for the quarter,” the company said in a BSE filing.
Policybazaar said having reduced losses by Rs 20 crore QoQ, this trend of reducing losses should continue.
India’s largest marketplace for insurance said it has 12.3 million transacting customers till June-end and have sold 27.9 million insurance policies to date.
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