visimoney
PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, saw its shares surpass the IPO price after a two-year period as investors responded positively to its strong Q3FY24 performance.
For the first nine months of FY24, its total operating revenue jumped to ₹2,348 crore, and the consolidated PAT improved by ₹482 crore to ₹4 crore.
The core online business witnessed significant growth, with new protection premiums (health insurance + term insurance) surging by 44% and the core operating revenue reaching ₹593 crore, up 39% YoY.
The company turned a net profit in Q3 two quarters ahead of its estimates, reporting a net profit of ₹37 crore, a significant improvement compared to the net loss of ₹87 crore in the corresponding quarter of the previous fiscal.
Early trade saw the stock surpass its IPO price of ₹980, reaching a two-year high of ₹1,020, representing a gain of 12.5%.
