PB Fintech Consolidated Loss Stands At INR 183 Crore

The latest quarterly loss was narrower than the consolidated net loss of ₹204.44 crore recorded in the same quarter last fiscal

PB Fintech, the umbrella company of Paisabazaar and Policybazaar has reported a consolidated net loss of ₹186.63 crore for Q2 September 30, 2022. The latest quarterly loss is less than the net loss of INR 204.44 crore recorded in the same quarter 2011. In the June 2022 quarter, PB Fintech recorded a consolidated net loss of ₹204.33 crore. 

Total consolidated income for the quarter under review more than doubled to INR 634 crore from INR 300 crore in same period last year, the company’s latest filings with stock exchanges showed. In June 2022 quarter, PB Fintech recorded a total income of INR 553 crore. 

PB Fintech said its revenue from operations jumped 105.11 per cent to ₹573.47 crore from ₹ 279.58 crore in same quarter last year. While there has been an industry slowdown in retail protection sales, PB Fintech has delivered 34 per cent growth in health insurance premiums and 29 per cent in life insurance new business premiums, which is 200 to 500 per cent of the industry.