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PB Fintech’s insured boost brings first profitable quarterly since listing.

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TLDR: PB Fintech, the parent company of online insurance aggregator Policybazaar, has reported its first quarterly profit since listing on the stock market. The company posted a net profit of INR 380.5 million ($4.58 million) for the quarter ended December 31, 2023, compared to a loss of INR 873 million the previous year. The profit was driven by revenue growth in its core online businesses, with revenue from Policybazaar and Paisabazaar rising by 39% to INR 5.93 billion. Revenue from operations also increased by 43% to INR 8.71 billion, primarily due to increased proceeds from its insurance broker services. The company had previously expected to turn profitable after heavy marketing spends.

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