Internet Software & Services company PB Fintech announced Q2FY24 results:
- Scale:
- Insurance premium at Rs 3,475 crore, an ARR of Rs 14k crore
- Disbursals ARR of Rs 16.5k crore, 6 Lacs Credit Cards
- Core Online Business:
- New Protection (Health Term) Premium up 53%
- Operating revenue Rs 597 crore, up 46%
- Contribution margin improves to 45%
- Adjusted EBITDA improves to Rs 68 crore from Rs 12 crore, margin improves to 11%
- Total Business:
- Operating revenue Rs 812 crore, up 42%
- Adjusted EBITDA margin improves to 2% from -9%
- PAT Loss reduced 89% from Rs 187 crore to Rs 21 crore
- New Initiatives:
- Operating revenue of Rs 215 crore, up 31%
- Continued leadership in PoSP business