Policybazaar Stock Hits New-high On PAT Growth
For the Q1 FY 25 the firm’s operating revenue grows 52 per cent to Rs 1,010 crore, while profit after tax (PAT) improves to a profit of Rs 60 crore year-on-year (YoY)
The stocks of PB Fintech (Policybazaar) climbed more than 5 per cent in the to attain its new-high of Rs 1,513 in the Wednesday trading session after the insurer platform posted Q1 earnings.
Policybazaar stock traded at Rs 1,512 with 5.48 per cent gain in the afternoon session on the National Stock Exchange (NSE).
For the Q1 FY 25 the firm’s operating revenue grew 52 per cent to Rs 1,010 crore, while profit after tax (PAT) improved to a profit of Rs 60 crore year-on-year (YoY).
“Our renewal revenue is at an average run rate (ARR) of Rs 559 crore, up from Rs 418 crore last year in the same quarter. We continue to improve our customer onboarding and claims support services. Credit business sees moderation in growth, however continues to be adjusted EBITDA positive since December 2022,” stated Policybazaar.
We continue to strengthen our leadership in new initiatives with revenue growth of 131 per cent YoY with adjusted EBITDA margin moving from negative 31 per cent to negative 12 per cent, added company.
The firm’s online insurance new premium grew 62 per cent YoY led by new health and life insurance at 78 per cent.
Policybazaar stock delivered nearly 100 per cent returns in the year 2024 so far which outperformed every sectoral indices and as well as benchmark indices, Nifty and Sensex.
