PB Fintech reports strong Q2 FY2026 performance with robust growth

PB Fintech Limited reported a strong second quarter for fiscal year 2025-26, with total premium reaching ₹7,605 Cr, a 40% year-over-year (YoY) increase and a 15% quarter-on-quarter (QoQ) rise. This growth was primarily fueled by the online protection business, up 44% YoY, and health insurance, which saw a 60% YoY increase. Consolidated revenue grew 38% YoY to ₹1,614 Cr. The company's consolidated PAT increased 165% YoY to ₹135 Cr, with PAT margin improving from 4% to 8%. Renewal trail revenue on a 12-month rolling basis stood at ₹774 Cr, and quarterly insurance renewals revenue reached an ARR of ₹758 Cr, up from ₹516 Cr in Q2 last year.

The company's Core Credit revenue, though down 22% YoY, showed a 4% QoQ increase, signaling a bottoming out. Credit disbursals for the Core online business were ₹2,280 Cr. PB Partners, the agent aggregator platform, continues to expand, with over 380K advisors, contributing to new initiatives revenue growth of 61% YoY. Adj. EBITDA margins for new initiatives improved from -12% to -4%, with a 5% contribution margin. The UAE insurance premium grew 64% YoY and has been profitable for three consecutive quarters.

PB Fintech highlighted its commitment to growth and operational efficiency, with a focus on improving customer onboarding, claim support services, and maintaining a high insurance CSAT consistently above 90%. Management anticipates New initiatives to be near adj. EBITDA zero by FY27, excluding any strategic investments.