PB Fintech, the parent company of Policybazaar, experiences a notable revenue surge of 33% in Q1 FY26, reaching an impressive figure of Rs 1,348 crore.
In a significant development, PB Fintech, the parent company of Policybazaar and Paisabazaar, has announced impressive financial results for the first quarter of FY26. The company reported a 347% year-on-year jump in profit after tax (PAT) to Rs 85 crore.
The core credit revenue took a 22% hit year-on-year, but other segments of the business more than compensated for this decline. The quarterly insurance premium stood at Rs 6,616 crore, marking a 36% year-on-year increase. Core online insurance revenue reached Rs 732 crore, up 37% year-on-year, while core online insurance premium grew 35% year-on-year.
New protection premium, comprising health and term insurance, surged 46% during the same period. Notably, new health insurance sales grew by 65%. The business has remained profitable for two consecutive quarters in the UAE, supported by unique offerings such as cross-border health insurance and motor claims assurance. PB Fintech's insurance premium in the UAE grew 68% year-on-year.
Revenue from PB Fintech's credit business in the quarter was Rs 102 crore. On a 12-month rolling basis, renewal/trail revenue grew 43% to Rs 725 crore. Quarterly renewal revenue reached an annualized run rate (ARR) of Rs 673 crore, reflecting a 47% year-on-year increase. Adjusted EBITDA margins improved from -12% to -6%, and PAT margins improved significantly, from -47% to 6%.
Operating revenue for PB Fintech rose 33% year-on-year to Rs 1,348 crore. These new initiatives now contribute about 5% to consolidated revenues. PB Partners, the company's agent aggregator platform, operates with over 350,000 advisors across 19,000 pin codes in India.
PB Fintech has strategically shifted towards 'smaller and higher quality advisors.' This strategic move has been instrumental in driving growth and profitability. The company reported an annualized insurance premium of Rs 26,463 crore. Revenue from new initiatives rose approximately 50% year-on-year.
However, there is limited information available about PB Fintech's activities in the United Arab Emirates in recent quarters. Despite this, the company's expansion into the UAE market seems to be paying off, with impressive growth in insurance premiums.
Since its public listing in November 2021, PB Fintech's revenue has grown at a CAGR of 54%. This steady growth and the successful shift towards profitability are promising signs for the future of the company.
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