PB Fintech Q2 FY24 Results Key Highlights
- Q2 Consolidated Revenue up 41% YoY and Net Loss shrink to Rs. 21 Cr
- PAT Loss reduced by 89% as just Rs.21 Cr in Q2 vs Rs.187 Cr last year same quarter
- Adjusted EBITDA Margins 2% up from -9%
- New Protection Business (Health & Term) grew 53% YoY
- New Initiative Revenue at Rs. 215 Cr, up 31% YoY
- For last 6 Quarter, adjusted EBITDA from core business (Policybazaar plus Paisabazaar) has improved at an ARR of over Rs.225 Cr. 6 Quarter ago, guided this at Rs.150-200 Cr a year
- Renewal Revenue at annualized rate is at Rs.436Cr vs Rs.294 YoY which has 85% Margins
- UAE business has grown 2.5x YoY
- Consolidated PAT for H1 increased by Rs.358 Cr to minus 33 Cr and Company stay confident of this year being PAT positive (Full Year PAT Positive)
- This is the last quarter we are delivering loss. Confident of giving profit from next quarter.
- Cash Position is at Rs.5072 Cr
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