Internet Software & Services company PB Fintech announced Q3FY24 results:
- Scale:
- Insurance Premium: Achieved Rs 4,261 crore, representing an Annual Recurring Revenue (ARR) of Rs 17,000 crore.
- Credit Disbursal: Achieved an ARR of Rs 14,000 crore with 5.6 lakh Credit Cards.
- Core Online Business:
- New Protection Premium: Registered a significant growth of 44%.
- Operating Revenue: Reached Rs 593 crore, showing a robust growth of 39%.
- Contribution Margin: Improved to 44%.
- Adjusted EBITDA: Improved to Rs 76 crore from Rs 26 crore, with the margin increasing to 13% from 6%.
- Total Business:
- Operating Revenue: Reached Rs 871 crore, marking a substantial growth of 43%.
- Adjusted EBITDA Margin: Improved to 4% from -5%.
- Profit After Tax (PAT): Grew by Rs 125 crore, reaching Rs 37 crore, compared to a PAT loss of Rs 87 crore in the previous year.
- Cash Position: Improved by Rs 204 crore YoY, reaching Rs 5,150 crore.
- New Initiatives:
- Operating Revenue: Achieved Rs 278 crore, reflecting a growth of 50%.
- Contribution Margin Break-even: Successfully achieved in new initiatives.
- PB Partners: Maintained leadership in the B2B2C agent aggregation platform.