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PB Fintech soars with record profit, scales 52-week peak.

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TLDR:

Shares of PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, surged almost 15% in early trading after the company reported its first ever quarterly profit since listing. The company reported a profit after tax of Rs 37 crore for the October-December quarter of FY2024, compared to a loss of Rs 87 crore in the same quarter of the previous fiscal year. Additionally, PB Fintech’s revenue from operations rose 43% to Rs 871 crore for Q3FY24.

Shares of PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, jumped almost 15% in the early trading hours on Wednesday, a day after the company reported its first quarterly profit since listing.

PB Fintech reported a profit after tax of Rs 37 crore for the October-December quarter of the financial year 2024, against a loss of Rs 87 crore in the same quarter of the previous fiscal year, given robust growth in insurance premiums, improved renewals with higher margins, and enhanced contributing margins.

The company’s revenue from operations rose 43% to Rs 871 crore for Q3FY24, compared to Rs 610 crore in the corresponding quarter of the last financial year.

Additionally, the company posted a positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin of 4% from the negative 5% margin recorded in the same period last year.

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