PB Fintech Q4: Firm narrows net loss to ₹9 cr, revenue up 60%
PB Fintech on Monday reported net consolidated loss for the quarter ended March at ₹8.95 crore. The company narrowed it net loss from ₹219.60 crore in the same quarter a year ago.
The revenue from operations rose 60.85 per cent to ₹869.09 crore in the quarter under review from ₹540.29 crore in the year ago period, the company said in an exchange filing.
The company said that it ‘broke even and consolidated adjusted EBITDA stood at ₹28 crore for the quarter ended March 2023.
“As we had guided earlier about breaking even in Q4, we are glad to announce that we broke even and our consolidated adjusted EBITDA was a positive ₹28 Cr for Q4 which is a 3% EBTIDA margin, an improvement from minus ₹80 Cr (-15% margin) same quarter last year . Just to reiterate here, our existing businesses comprising of Policybazaar and Paisabazaar which are the insurance and credit marketplaces respectively have been adjusted EBITDA positive for more than a year with Paisabazaar individually being EBITDA positive since December 2022,” said PB Fintech in its filing.
The company’s share closed 1.76 per cent down at ₹618.75 on BSE.
(This is a developing story, more to come)
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.