PB Fintech’s stock price increased by 16.23 percent, reaching an all-time high of Rs 1664.35 a share on the BSE in Wednesday’s intraday trade. This happened after the firm announced a 52% rise in revenues in the first quarter of fiscal year 2024-24 (Q1 FY25).
The online marketplaces Policybazaar and Paisabazaar’s parent company, PB Fintech, reported a third straight successful quarter for the April–June period on Tuesday. This success was mostly attributed to an extraordinary gain of Rs 41 crore from disinvestments made through subsidiaries.
In the first quarter of the financial year 2024–25, the insurance aggregator recorded a net profit of Rs 60 crore, up from a loss of Rs 12 crore during the same time the previous year.
Consolidated revenue for the quarter increased to Rs 1,010 crore from Rs 665.5 crore in Q1FY24.
As of 10:31 am, PB Fintech shares were trading 2.92% higher at Rs 1,476.80 on the NSE.
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