Internet Software & Services company PB Fintech announced FY24 results:
Financial Highlights:
Scale
- Insurance Premium at an ARR of Rs 20k crore
- Credit Disbursal ARR of Rs 14k crore and 6L Credit Cards
Core Online Business
- New Core Online Insurance Premium up 47% (Q4FY24)
- New (Health & Life Insurance) Premium up 53% (Q4FY24)
- Operating Revenue Rs 2,375 crore, up 39%
- Contribution Margin improves to 45% despite high growth in new health insurance premium
- Adjusted EBITDA improves to Rs 324 crore from Rs 107 crore, Margin improves to 14% from 6%
Total Business
- Operating Revenue Rs 3,438 crore, up 34%
- Adjusted EBITDA Margin improves from -5% to 4%
- PAT improved from a loss of Rs 488 crore to a profit of Rs 64 crore YoY
- Cash position improved by Rs 259 crore YoY to Rs 5,263 crore
New Initiatives
- Operating Revenue of Rs 1,062 crore from Rs 848 crore
- Contribution Margin improved from -14% to -3%
- Continued leadership in PB Partners, our B2B2C agent aggregation platform