PB Fintech, the parent company of Policybazaar and Paisabazaar, reported a net profit of ₹37 crore in Q3FY24, a significant improvement from the net loss of ₹87 crore in the same period last year. The company s revenue from operations also increased by 43% YoY to ₹871 crore in Q3.
PB Fintech: The transaction is done at arm’s length basis, PB Fintech said adding that the arm is professionally managed company with no identifiable promoter.
PB Fintech s stock, which suffered a 53% loss in CY22, has rebounded strongly in CY23, yielding a return of 82% so far this year. The positive trend is attributed to the company s strong financial performance.
Shareholding patterns of new-age firms like Zomato, Paytm, PB Fintech show that mutual funds have increased their holdings in several of such companies.
For Tuesday, share market analysts from a few brokerages have assigned Buy/Accumulate/Hold calls on Gujarat Gas, IndiGo, Policybazaar and Bank of Baroda.