Policybazaar parent's loss widens 55% to Rs 297 cr in Q3, revenue up 73%

Revenue contribution of insurance services slides to 53 per cent in Q3 of FY22 from 68 per cent in the year-ago period

PB Fintech, the parent company of recently listed online insurance aggregator Policybazaar, saw its net loss in the December quarter (Q3) jump 55 per cent to Rs 297 crore, compared to the year-ago period. Meanwhile, the company recorded a revenue growth of 73 per cent to Rs 367 crore in the same period.

While the company’s insurance premiums (through Policybazaar) grew by 68 per cent to Rs 1,796 crore in Q3, credit disbursals (through Paisabazaar) rose 94 per cent to Rs 1,926 crores. Adjusted EBITDA (non GAAP) was a loss of Rs 92 crore, reflecting investment in new initiatives and brand