Policybazaar boosts PB Fintech's Q1 net profit to Rs 60 crore; revenue up 51% to Rs 1,010 crore

PB Fintech, which runs insurance marketplace Policybazaar and credit marketplace Paisabazaar, reported a 51% jump in operational revenue to Rs 1,010 crore in the June quarter of FY25 from Rs 665.5 crore a year back.

The company reported a net profit of Rs 59.9 crore in the June quarter compared to a net loss of Rs 11.9 crore last year. The Gurugram-based startup had reported a net profit of Rs 64 crore in FY24.

Major business metrics


In the June quarter, the total insurance premium processed by Policybazaar stood at Rs 4,871 crore, up 61% from Rs 3,011 crore a year back.

In terms of expenses, PB Fintech has pushed the pedal on marketing and advertising, spending Rs 245 crore in the last quarter against Rs 198 crore a year earlier.

Credit operations

The business of Paisabazaar suffered a slowdown in growth in this quarter. Sales of credit cards remained flat compared to last year. And the annual distribution run rate of credit products slowed down. Paisabazaar distributed Rs 3,100 crore worth of loans and 1.3 lakh credit cards in Q1 2025. In FY24, it was at an annual disbursal run rate of Rs 14,800 crore.

Also read | Global firms buy PB Fintech stakes from early backers

New business, faster growth

The insurance collection through the new initiatives almost doubled year-on-year (YoY) to Rs 1,514 crore. PB Fintech said that its business operations in the Middle East grew nine times in terms of premium processed, since 2022. In the last three years, the corporate insurance distribution business, the B2B arm of PB Fintech, grew seven times. Finally, PB Partners, the agent-based sales business now covers almost 95% of the pin codes in the country with tier 2 and 3 cities accounting for 75% of the overall business.

Regulatory challenges

PB Fintech is engaged with the Insurance Regulatory and Development Authority of India (IRDAI) on certain issues regarding its books of accounts and records. In that context the company has been served show cause notice by the sector regulator. Unless the proceedings with IRDAI close, the company does not have an understanding of the effect it can have on the balance sheet, it said in its disclosures.

Also, the company received certain tax notices from the Directorate General of GST Intelligence (DGGI) regarding certain input tax credits availed by the vendors of Paisabazaar. Concerning that dispute, Paisabazaar has made an initial deposit of Rs 24.5 lakh with the tax authorities.