Share price of this large-cap stock and the parent company of Policybazaar and Paisabazaar, moved up by nearly 3 percent on BSE to hit an intraday high at Rs. 1,279.55 in the trading session of Wednesday, after reporting Q4 results with a rise in net profit by 61.7 percent QoQ and revenue from operations by 25 percent QoQ.
With a market capitalisation of Rs. 56,082.33 crore, at 11:11 a.m., the shares of PB Fintech Limited were trading in the green at Rs. 1,249.6, up by 0.5 percent.
The stock has delivered nearly 101.6 percent of multibagger returns in the last one year and around 70.9 percent of positive returns in the last six months. So far in 2024, the company has given about 54.6 percent of positive returns.
The fluctuations in the share prices were observed after PB Fintech Limited announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Tuesday post-market hours.
The consolidated revenue from operations increased by 34.4 percent YoY from Rs. 2,557.85 crore in FY22-23 to Rs. 3,437.7 crore in FY23-24 and grew by 25 percent QoQ from Rs. 870.9 crore in Q3 FY23-24 to Rs. 1,089.6 crore in Q4 FY23-24.
The company witnessed a rise in the net profit by 61.7 percent QoQ from Rs. 37.23 crore in Q3 FY23-24 to Rs. 60.2 crore in Q4 FY23-24. On a year-on-year basis, PAT increased from a loss of Rs. 487.94 crore in FY22-23 to a profit of Rs. 64.41 crore in FY23-24, representing an improvement of Rs. 552 crore.
Paisabazaar continues to cater to India’s diverse consumer segments for their varied credit needs offering wide choice, ease of access and transparency to consumers. The company’s health and life insurance businesses are growing ahead of expectations
The company’s overall insurance premium for FY23-24 stood at Rs. 15,875 crore, representing a growth of 37 percent YoY, from Rs. 11,589 crore in FY22-23. In FY23-24, the core online business premium came in at Rs, 11,356 crore, while new initiatives stood at Rs. 4,519 crore.
Paisabazaar, India’s largest comparison platform for credit products, disbursed loans worth over Rs. 14,800 crore over the year, with nearly 6 lakh credit card issuances, and 7.73 crore registered customers as of March 31, 2024.
PB Fintech Limited launched Policybazaar, its flagship platform, in 2008 and launched Paisabazaar in 2014. It is an online platform for insurance and lending products, offering access to insurance, credit, and other financial products.
Written by Shivani Singh
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