Policybazaar parent PB Fintech’s Q1 profit jumps 92% to Rs 163 crore, revenue rises 40%

PB Fintech, the parent company of Policybazaar, reported a 92% year-on-year rise in consolidated PAT for the first quarter of FY27, as its insurance business continued to grow.

Its PAT rose to Rs 163 crore in the three months to June, from Rs 85 crore in the same period a year earlier.

The company's PAT margin improved to 9% from 6%, while revenue from operations increased 40% year-on-year to Rs 1,888 crore, compared with Rs 1,348 crore a year earlier.

Total insurance premium rose 41% to Rs 8,372 crore during the quarter, with growth led by the protection business, which includes health and term insurance.

New protection premium increased 53% year-on-year, while new health insurance premium grew 59%.

PB Fintech said its core online insurance premium rose 41% during the quarter. Core new insurance premium, excluding the savings business, increased 48%, while growth including savings stood at 39%.

The company said growth in core new insurance premium, excluding savings, had remained above 34% year-on-year for 13 consecutive quarters.

Core insurance revenue increased 46% during the quarter.

Its insurance customer satisfaction score remained above 90%, as it continued to improve customer onboarding and claims support.

Core renewal and trail revenue, measured on a rolling 12-month basis, rose 38% to Rs 1,003 crore from Rs 725 crore a year earlier. The increase was led by 55% growth in the insurance segment.

Quarterly core insurance renewal revenue reached an annual recurring revenue run rate of Rs 999 crore, compared with Rs 673 crore in the first quarter of the previous financial year.

The company described renewal revenue as “a key driver of long-term profit growth”.

PB Fintech also reported growth in its credit business. Total lending disbursals stood at Rs 4,366 crore during the quarter, while core credit disbursals increased 33% year-on-year to Rs 2,776 crore.

Core credit revenue rose 25% to Rs 127 crore. The company said core credit disbursals and revenue had grown for four consecutive quarters.

Revenue from new initiatives increased 35% year-on-year during the quarter. Adjusted EBITDA margin for the segment improved to negative 5% from negative 6% a year earlier, while contribution margin stood at 7%.

PB Partners, the company's agent aggregator platform, had more than 500,000 advisors on its network.

PB Fintech said it was increasingly focusing on smaller, higher-quality advisors. The number of active partners rose 55% year-on-year to 1.13 lakh during the quarter.

In the UAE, insurance premium increased 31% year-on-year, with the business increasingly focused on health and life insurance.

Its UAE insurance business remained profitable in FY26 and in the first quarter of FY27.