PB Fintech, which operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has narrowed its consolidated losses at Rs 87.6 crore for the quarter ended December 2022.

It had reported Rs 298-crore loss for the same period in the previous year. For the three-month period ending September, the loss stood at Rs 186.6 crore.

Consolidated income was Rs 678.9 crore during the period under review, a 69% increase from Rs 400.8 crore it had reported for the same period in the previous year.

On a sequential basis, consolidated revenue is up 7% .

For the nine-month period ending December, consolidated revenues stood at Rs 1,865.5 crore. The loss in the same period narrowed to Rs 478.59 crore compared to the year-ago period.

According to the company, insurance premiums for the group grew 70% on a yearly basis to Rs 3,028 crore in the December-end quarter. Credit disbursals were also up 57% year-on-year at Rs 3,021 crore for the December quarter.

Operating income for PB Fintech in the December-end quarter stood at Rs 610 crore. In a filing with BSE, PB Fintech said that it continues to look to deliver a full year of positive PAT (profit-after tax) in the next fiscal.

“We stay confident of being Adjusted EBITDA positive by Q4 this year and delivering the first full year of positive PAT in 2023-24,” said the regulatory filing.

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