PB Fintech, which operates financial services platforms Policybazaar and Paisabazaar, reported the results for the third quarter of fiscal year 2025 on Thursday. The company posted an 88.2% increase in net profit for the three months ended December 2024, rising to ₹71.5 crore compared to ₹38 crore in the same period last year.

Revenue surged 48.3% to ₹1,291.6 crore in Q3 FY25, up from ₹870.9 crore in Q3 FY24. The company turned around its EBITDA performance, posting ₹27.7 crore in Q3, compared to an EBITDA loss of ₹25.5 crore in the previous year. The EBITDA margin stood at 2.1%.

In the third quarter, Online Insurance New Premium grew 44% year-on-year (YoY) led by the new health and life insurance service provided by the company. The company earned an insurance premium of ₹6,135 crore, up 44% YoY, led by growth in new health and life insurance premiums.

Consolidated operating revenue grew at 48% to ₹1,292 Cr for the quarter, with core insurance revenue up 45% YoY, and core credit revenue down 18% YoY.

“Our renewal / trail revenue is at an ARR of ₹665 crore, up from ₹454 crore last year same quarter, a 46% growth. This is a key driver of long term profit growth,” PB Fintech said in a statement.

PB Fintech continued to enhance its customer onboarding and claims support services in Q3, with insurance customer satisfaction (CSAT) improving to 90.2%, up from 90% in the previous quarter. The company’s credit business saw a 20% decline YoY in disbursals on the online platform, but the secured credit business, launched in Q2 FY25 and now categorized under New Initiatives, reported ₹2,570 crore in disbursals and ₹24 crore in revenue for the quarter.

The core credit business has been adjusted EBITDA positive since December 2022, with an annualized run rate (ARR) of ₹21,700 crore in credit disbursals and approximately 5 lakh credit cards issued. The total consumer base for credit scores now stands at 49.4 million.

More than 70% of disbursals on the Paisabazaar platform were to existing customers, reflecting strong customer trust and repeat behaviour. New Initiatives posted an 87% YoY revenue growth, with the adjusted EBITDA margin improving from -13% to -7%, contributing 3% to overall performance.

Shares of PB Fintech ended 3% lower at ₹1,659.75 on Thursday.