PB Fintech Q2 results: Policybazaar parent's net loss narrows 89% YoY to ₹21 crore
PB Fintech, the parent entity of insurance aggregator Policybazaar, clocked a net loss of ₹21 crore in the second quarter of fiscal year 2023-24 (Q2FY24), the company informed the exchanges on November 4. This is 89 percent lower as against a net loss of ₹187 crore reported in the year-ago period.
The company's overall revenue from operations came in at ₹812 crore, growing by 42 percent year-on-year (YoY). The adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) margin improved to 2 percent from -9 percent in the year-ago period.
The operational revenue from core online business increased by 46 percent YoY to ₹597 crore. (This is a developing story. Please check back for more updates)Milestone Alert!
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