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In the corresponding quarter, PB Fintech posted a net loss of ₹11.9 crore, the company said in a regulatory filing. The company’s revenue from operations jumped 51.8% to ₹1,010.5 crore against ₹665.6 crore in the corresponding period of the preceding fiscal.
At the operating level, adjusted EBITDA stood at ₹49 crore in the first quarter of this fiscal over ₹23 crore in the first quarter of the previous quarter.
Adjusted EBITDA margin stood at 5% in the reporting quarter compared to 3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
In the June quarter, PB Fintech reported a total insurance premium of ₹4,871 crore, driven by a 78% YoY growth in the new health and life insurance business. The new core online insurance premium increased by 66%.
The company’s renewal/trail revenue reached an annual recurring revenue (ARR) of ₹559 crore, up from ₹418 crore in the same quarter last year, with margins operating over 85%, contributing significantly to profit growth.
Customer onboarding and claims support services have improved, with the insurance customer satisfaction (CSAT) now at 89.9%. While the credit business saw a moderation in growth, it has remained adjusted EBITDA positive since December 2022.
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PB Fintech achieved ₹3.1 lakh crore in credit disbursal and issued over 1.3 lakh credit cards, with a total credit score consumer base of approximately 46 million.
Notably, over 75% of cards were processed entirely digitally, and 75% of disbursals came from existing customers. Additionally, the company strengthened its leadership in new initiatives, with revenue growth of 131% YoY and an adjusted EBITDA margin improvement from -31% to -12%.
The results came after the close of the market hours. Shares of PB Fintech Ltd ended at ₹1,425, down by ₹50.10, or 3.40%, on the BSE.
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