PB Fintech Q1 profit up 92% YoY, down 37% on quarter

PB Fintech, the parent of Policybazaar and Paisabazaar, reported profit after tax of Rs 163 Cr for Q1 FY27, up 92% from Rs 85 Cr a year earlier. Operating revenue rose 40% to Rs 1,888 Cr from Rs 1,348 Cr. Total income was Rs 1,981 Cr, which includes Rs 93 Cr from interest and gains on financial assets.

The sequential picture is the other half of the same result. Profit fell 37% from Rs 261 Cr in Q4 FY26, and total income fell 8% from Rs 2,061 Cr. Entrackr reports both. The 92% in the headline is a year on year number and the 37% decline is a quarter on quarter number. Neither cancels the other.

On the segment split, Policybazaar contributed Rs 1,067 Cr and Paisabazaar Rs 127 Cr. New initiatives, covering PB Partners, PB for Business, PB UAE and PB Connect, brought in Rs 694 Cr. Total insurance premium rose 41% to Rs 8,372 Cr, with new protection premium up 53% and health insurance up 59%. Total expenditure was Rs 1,800 Cr, up 33% from Rs 1,356 Cr. Employee benefit costs of Rs 716 Cr made up 40% of all costs. Shares closed at Rs 1,620, for a market cap of Rs 74,957 Cr.

One line is worth a second look for anyone buying traffic in India. Advertising and promotion grew 50% while operating revenue grew 40%. A company with Policybazaar’s brand recall and a Rs 379 Cr quarterly promotion budget is still paying up faster than it earns. That is a statement about the price of demand, and it is set in the same auctions D2C brands bid in. If your blended acquisition cost drifted this quarter, the cause may not be your targeting.

The second lesson is reporting discipline. New initiatives now account for Rs 694 Cr, more than a third of operating revenue, and PB Fintech shows the line separately rather than folding it into the core. Copy that in your own board deck. Report the new channel on its own, and put the sequential number next to the annual one, because up 92% and down 37% describe the same three months.