PB Fintech aims breakeven by fourth quarter

PB Fintech, which owns online insurance aggregator Policybazaar and credit marketplace Paisabazaar, expects its credit business to turn adjusted EBITDA positive by fourth quarter of this fiscal.

Published: 16th August 2022 08:29 AM  |   Last Updated: 16th August 2022 08:29 AM   |  A+A A-

A woman shows her account at policybazaar app on her phone. (Phone | AP)

Policybazaar, Image used for representation (Phone | AP)

By Express News Service

BENGALURU: PB Fintech, which owns online insurance aggregator Policybazaar and credit marketplace Paisabazaar, expects its credit business to turn adjusted EBITDA (earnings before interest, taxes, depreciation & amortisation)-positive by fourth quarter of this fiscal, and it is not seeing any slowdown for the next four years.

Yashish Dahiya, Chairman and CEO of PB Fintech, said in an earnings conference call recently that the company will be increasing profitability by Rs 150 crore from now on, and that they could reach the profitability over the next 4-5 years if it breaks even by the fourth quarter.

Its core business - Policybazaar and Pasiabazaar - grew at 59% year-on-year (YoY) and has now been adjusted EBITDA-positive for the second quarter. Its insurance business had an adjusted EBITDA of `18 crore positive in the first quarter of this fiscal.

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