Mumbai, February 2026: PB Fintech Limited, the parent company of Policybazaar and Paisabazaar, announced stellar financial results for the third quarter of FY26, showcasing a remarkable turnaround and accelerating profitability.
Blockbuster Quarterly Performance (Q3 FY26 vs Q3 FY25)
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Profit After Tax (PAT): Soared 165% Year-on-Year (YoY) to ₹189 Crore, up from ₹71 Crore in Q3 FY25.
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Total Insurance Premium: Grew 45% YoY to ₹7,965 Crore, driven by a 68% YoY surge in New Protection (Health + Term) Premium.
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Operating Revenue: Increased 37% YoY to ₹1,771 Crore.
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Adjusted EBITDA: Jumped 154% YoY to ₹199 Crore, with margins expanding sharply from 6% to 11%.
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Lending Disbursals: Rose 84% YoY to ₹9,986 Crore, with Core Online Disbursal up 8% Quarter-on-Quarter (QoQ).
Key Growth Drivers & Strategic Highlights
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Dominance in Protection Insurance: The company's core strength in online new protection business remained the primary growth engine, with New Health Insurance premium growing 79% YoY.
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Sustainable Profit Engine – Renewal Revenue: The core renewal/trail revenue on a 12-month rolling basis reached ₹841 Crore, a 38% growth YoY, led by a 60% growth in the insurance segment. This high-margin, recurring revenue stream is a critical driver for long-term profitability.
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Leadership in New Initiatives:
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PB Partners: The agent aggregator platform strengthened its leadership with over 400,000 advisors, now present in 19,000 pin codes (covering 99% of India), driving growth in Tier 4 & 5 towns.
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UAE Operations: Insurance premium grew 62% YoY, now consistently profitable for four consecutive quarters.
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Path to Profitability Since IPO: The company highlighted its successful journey since listing in November 2021:
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Revenue CAGR of 48% (from ₹367 Cr in Q3 FY22 to ₹1,771 Cr in Q3 FY26).
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PAT margin transformed from -81% in Q3 FY22 to a healthy +11% in Q3 FY26.
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Management Commentary
The company stated, *"Our core renewal revenue is a key driver of long-term profit growth. We continue to improve customer onboarding & claims support, with Insurance Customer Satisfaction (CSAT) consistently above 90%."*
Segment-Wise Performance
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Core Insurance Revenue: Up 42% YoY.
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Core Credit Revenue: Grew 8% QoQ, with quarterly revenue of ₹115 Crore and disbursals of ₹2,470 Crore for the core online business.
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New Initiatives: Revenue grew 41% YoY with adjusted EBITDA margin improving from -7% to -3%.
About PB Fintech: PB Fintech Limited (NSE: POLICYBZR, BSE: 543660) is India's leading online platform for insurance and credit products, operating under the brands Policybazaar and Paisabazaar. The company leverages