Internet Software & Services company PB Fintech announced Q4FY23 results: Total business: Insurance Premium Rs 3,586 crore, up 65% YoY Credit Disbursal Rs 3,357 crore, up 53% YoY Operating revenue Rs 869 crore, up 61% YoY PAT Loss reduced from Rs 220 crore to Rs 9 crore, margin improvement from -41% to -1% Existing Business: Operating revenue Rs 504 crore, 31% YoY Contribution margin 44% Core business Adjusted EBITDA was Rs 64 crore positive for the quarter (with credit business breaking even since Dec) New Initiatives: Operating revenue of Rs 365 crore, 136% YoY Loss in new initiatives Rs 36 crore (down from a peak of Rs 90 crore) We continue to maintain leadership Commenting on results, the company stated: Policybazaar and Paisabazaar, which are jointly classified as Existing Businesses, are India’s leading marketplaces for insurance and credit products. These contributed to almost all of our revenues until FY21. In FY22, we expanded into new areas and geographies and collectively refer to them as new initiatives. 1. Our revenue for this year grew to Rs 2,558 crore marking a growth of 80% over FY22. 2. For Q4, our revenue grew to Rs 869 crore, up 61% YoY while PAT loss reduced from Rs 220 crore to Rs 9 crore, a margin reduction from -41% to -1% 3. As we had guided earlier about breaking even in Q4, we are glad to announce that we broke even and our consolidated adjusted EBITDA was a positive Rs 28 crore for Q4 which is a 3% EBTIDA margin, an improvement from minus Rs 80 crore (-15% margin) same quarter last year. Just to reiterate here, our existing businesses comprising of Policybazaar and Paisabazaar which are the insurance and credit marketplaces respectively have been adjusted EBITDA positive for more than a year with Paisabazaar individually being EBITDA positive since December 2022. 4. Our existing biz, Adjusted EBITDA increased by Rs 54 crore for the quarter and Rs 218 crore for the year as compared to the same periods last year. 5. This growth is driven by three things – Growth of Renewal Income, Growth of New Business, and higher efficiency on New Business 6. Continuous improvement in Customer onboarding, service, and Claims support – we maintain our CSAT of 88%". Result PDF