Policybazaar parent PB Fintech’s revenue jumps 33% to Rs 1,348 crore in Q1 FY26

PB Fintech, the parent company of Policybazaar and Paisabazaar, reported a 347% year-on-year jump in profit after tax (PAT) to Rs 85 crore, up from Rs 19 crore (excluding exceptional items) in the first quarter of FY26, riding on robust growth in its insurance vertical. 

Operating revenue rose 33% year-on-year to Rs 1,348 crore, as the company continued its pivot toward a more profitable and diversified business model.

The Gurugram-headquartered company reported an annualized insurance premium of Rs 26,463 crore, with core online insurance revenue reaching Rs 732 crore, up 37% year-on-year, and core online insurance premium growing 35% year-on-year. New protection premium, comprising health and term insurance, surged 46% during the same period.

Quarterly insurance premium stood at Rs 6,616 crore, up 36% year-on-year, driven in large part by a 65% growth in new health insurance sales. Core new insurance premium (excluding savings-linked products) recorded a 42% rise, maintaining a steady trend of 40% ±5% over the past nine quarters.

Quarterly renewal revenue, which is considered a reliable indicator of long-term profitability, reached an annualized run rate (ARR) of Rs 673 crore, reflecting a 47% year-on-year increase. On a 12-month rolling basis, renewal/trail revenue grew 43% to Rs 725 crore.

While insurance remains the bedrock of PB Fintech’s growth, its credit business reported a quarterly revenue of Rs 102 crore, with loan disbursals of Rs 2,095 crore through its online platforms. However, core credit revenue declined 22% year-on-year.

Revenue from new initiatives rose approximately 50% year-on-year, while adjusted EBITDA margins improved from -12% to -6%. These initiatives now contribute about 5% to consolidated revenues.

PB Partners, the company’s agent aggregator platform, continued to scale, operating with over 350,000 advisors across 19,000 pin codes in India. The company said it had strategically shifted towards “smaller and higher quality advisors,” with operations diversified across multiple product lines.

In the UAE, PB Fintech’s insurance premium grew 68% year-on-year, driven by an increasing focus on health and life products. The business has remained profitable for two consecutive quarters, supported by unique offerings such as cross-border health insurance and motor claims assurance.

Since its public listing in November 2021, PB Fintech’s revenue has grown at a CAGR of 54%, climbing from Rs 238 crore in Q1 FY22 to Rs 1,348 crore in Q1 FY26. Over the same period, PAT margins improved significantly, from -47% to 6%.