PB Fintech Q2 Profit Jumps 42% to ₹192 Crore as Revenue Rises 35%

PB Fintech, the parent company of PolicyBazaar and Paisabazaar, reported a 42.5% year-on-year rise in consolidated net profit to ₹192.4 crore for the September quarter of FY27, up from ₹135 crore a year earlier. Sequentially, profit grew 18% from ₹163 crore.

Operating revenue rose almost 35% to ₹2,177.7 crore from ₹1,613.6 crore in Q2 FY26, and was up 15% from ₹1,888.3 crore in the previous quarter. With other income of ₹100 crore, total income came to ₹2,277.6 crore. Total expenses increased 32.6% to ₹2,067.7 crore.

Core business and insurance momentum

The core online business, which includes PolicyBazaar and Paisabazaar, contributed ₹1,336 crore in revenue, up 39.5% year on year. The new initiatives arm added ₹842 crore, up 28%. In its investor presentation, the company said adjusted EBITDA improved 39% to ₹216 crore, while the adjusted EBITDA margin stayed flat at 10%.

Total insurance premium reached ₹9,385 crore, up 38%. Core online new protection premium grew 38% and new protection premium, which covers health and term insurance, rose 42%. Core renewal and trail revenue on a rolling 12-month basis climbed 41.7% to ₹1,097 crore, while the quarterly annualised figure reached ₹1,153 crore, up 52%.

PolicyBazaar says it has onboarded 17.3 crore registered customers and nearly 3 crore transacting users, and has facilitated the sale of 7.7 crore policies since inception.

Lending weakness at Paisabazaar

Not every metric moved up. Paisabazaar's loan disbursals fell 80% to ₹4,739 crore from ₹8,570 crore a year earlier. The vertical recorded an annualised run rate of 4 lakh card issuances and averaged 33 lakh monthly enquiries. It has 6.3 crore users who have checked their credit scores and 82 lakh transacting customers.

The partner platform PB Partners expanded to more than 5.7 lakh partners across nearly 19,000 pincodes, and the corporate insurance arm booked 22,000 unique policies for enterprises and small businesses. PB Fintech shares closed Friday 1.76% lower at ₹1,000 on the BSE.