PB Fintech Ltd, also known as Policybazaar, is India’s largest online platform which deals with insurance and lending products through its flagship brands – Paisabazaar and Policybazaar. This is a platform via which they provide convenient access to credit, insurance, and other financial products.
Financial Results:
PB Fintech Ltd.’s revenue in Q3FY23 rose 66% to ₹ 61,009 lakhs. Consolidated Loss After Tax came at ₹ 8760 lakhs in Q3FY23. In this quarter’s results, the reports suggested that the firm has reported decreased profits due to an increase in expenses.
As of right now, the company’s credit business has an annual run rate of 5.2 lakh credit card issuances and disbursements of Rs 12,700 crore. On its platform, more than 33 million users have obtained credit ratings.
According to the company, step-up cards and end-to-end (E2E) digital cards made up 75% of the cards issued in the third quarter. Duet Credit cards are still growing in popularity.
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