PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, saw its shares surpass the IPO price after a two-year period as investors responded positively to its strong Q3FY24 performance.
Policybazaar share price: PB Fintech s first-ever profit catapulted its stock to a fresh 52-week high. Target price upgrades served as the icing on the cake. BofA raised the target, retaining its neutral rating. Kotak Institutional Equities maintained a buy view relying on broad-based growth. Nuvama raised the price target but retained the reduce rating on rich valuations. PB Fintech reported a consolidated net profit of Rs 38 crore, against a loss a year ago. Revenue increased 43% YoY to Rs 871 crore.
PB Fintech Q3 Results: Revenue from operations increased 43% year-on-year (YoY) to Rs 871 crore. Revenue from its core online marketplaces – Policybazaar and Paisabazaar – grew 39% to Rs 593 crore, while the adjusted operating profit improved by Rs 50 crore YoY.
PB Fintech share price: The stock rose 2.74 per cent to hit a high of Rs 926.25 on BSE. PB Fintech is likely to deliver strong 32 per cent YoY premium growth, which is expected to drive revenues higher by 37.7 per cent, Nuvama said.
PB Fintech Q3 results: PB Fintech, operator of policybazaar, to report Q3 results today with expected revenue growth of 34% YoY and first positive profit. Analysts predict a profit of Rs 26.9 crore. The company s Q2 revenue from operations grew at 42% YoY to Rs 812 crore. JM Financial expects strong growth in insurance premium and loan disbursals with respective revenue growth of 45% and 42%. Despite a strong quarter, analysts see room for high growth with declining losses in PoSP and increased renewals for sustained margin improvement.