PB Fintech's Q2 Profit Rose 43% to ₹192 Crore, and ₹100 Crore of Other Income Sits Beside It
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PB Fintech's Q2 Profit Rose 43% to ₹192 Crore, and ₹100 Crore of Other Income Sits Beside It
Two outlets disagree on the profit by ₹1 crore and on the size of the Paisabazaar loan decline, while the stock is down 38.3 percent since the June quarter.
PB Fintech, the Gurugram parent of Policybazaar and Paisabazaar, reported a Q2 FY27 net profit of ₹192.4 crore on Friday, Oct. 30, up 42.5 percent from ₹135 crore a year earlier, according to Inc42. Operating revenue rose about 35 percent to ₹2,177.7 crore from ₹1,613.6 crore.
The figures come from news coverage of the results. This report did not read the company's exchange filing, so the numbers below are as the outlets reported them.
Where the two reports disagree
Entrackr gives profit as ₹192 crore in its headline and ₹193 crore in its body, and does not reconcile the two. Inc42's ₹192.4 crore is the more precise figure.
The larger gap is in credit. Inc42 wrote that Paisabazaar loan disbursals fell 80 percent to ₹4,739 crore from ₹8,570 crore in Q2 FY26. Those two figures imply a drop of about 45 percent, not 80. Inc42 did not give a unit for the prior-year number, and Entrackr does not report disbursals, so the correct decline is unresolved.
| Line | Q2 FY27 | Q2 FY26 |
|---|---|---|
| Operating revenue | ₹2,177.7 crore | ₹1,613.6 crore |
| Net profit | ₹192.4 crore | ₹135 crore |
| Total expenses | ₹2,067.7 crore | ₹1,558.8 crore |
| Loan disbursals | ₹4,739 crore | ₹8,570 crore |
Source: Inc42, Oct. 30, 2026.
What the other income does
Inc42 reported other income of ₹100 crore, which brings total income to ₹2,277.6 crore. Subtract total expenses of ₹2,067.7 crore and about ₹210 crore remains before tax. Roughly half of that is other income. The operating business alone leaves about ₹110 crore on the same arithmetic.
Inc42 reported adjusted EBITDA up 39 percent to ₹216 crore, a margin of 10 percent that was flat on a year earlier.
- Advertising expense59.5 %
- Insurance premium (Inc42)38 %
- Operating revenue35 %
- Total expenses32.6 %
Source: Entrackr and Inc42, Oct. 30, 2026
Insurance carries the quarter
Entrackr reported insurance broker services revenue of ₹2,015.19 crore, up 41.1 percent, while other services fell 12.3 percent to ₹162.52 crore. Inc42 put total insurance premium at ₹9,385 crore, up 38 percent. Advertising spend rose 59.5 percent to ₹447 crore, faster than revenue and about 21 percent of it.
Policybazaar has 17.3 crore registered customers and 7.7 crore policy sales since inception, per Inc42. For the first half, Entrackr reported revenue of ₹4,066 crore, up 37.3 percent, and profit after tax of ₹355 crore, up 61.4 percent.
The share price has not followed
Entrackr said the share price fell 38.3 percent, from ₹1,620 to ₹1,000, since the end of Q1 FY27, and market capitalisation fell 37.2 percent to ₹47,104 crore. Annualising the first-half profit of ₹355 crore gives ₹710 crore, about 66 times at that market value. Neither outlet explains the fall.
For comparison, Delhivery's Q2 profit swing turned on a one-off cost, and Navi's Prosus investment is the other Indian fintech valuation question on the site. The next marker is PB Fintech's Q3 FY27 result, which covers the quarter ending in December.
Sources
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