PB Fintech543390Quarterly results

Board approves unaudited Q2FY27 results; Total Insurance Premium up 38% YoY to ₹9,385 Cr

Board of PB Fintech met on October 30, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the auditors' Limited Review Reports.

By ScoutQuest · Fri 30 Oct 2026, 5:44 PM IST · 3 min read

Total Insurance Premium (Q2FY27): ₹9,385 Cr, up 38% YoY
Operating Revenue (Q2FY27): ₹2,178 Cr, up 35%
PAT (Q2FY27): ₹192 Cr, up 43%

Board outcome

The board approved the unaudited standalone and consolidated financial results of the company for the quarter and half year ended September 30, 2026, along with the auditors' Limited Review Reports.
It also approved an earning release dated October 30, 2026 and a press release titled "2QFY27 Total Insurance Premium grew 38% YoY to ₹9,385 Cr, led by new protection premium at 42% YoY, PAT grew 43% YoY to ₹192 Cr".
These are the headline figures of the consolidated business as presented in the release.

Headline numbers for Q2FY27

Total Insurance Premium of ₹9,385 Cr, up 38% YoY.
Operating Revenue of ₹2,178 Cr, up 35% YoY.
PAT of ₹192 Cr, up 43% YoY; PAT margin moved up from 8% to 9%.
Total lending disbursal for the quarter of ₹4,739 Cr; core lending disbursal up 22% YoY.

Insurance marketplace

Core Online Insurance Premium rose 38% YoY.
New Protection (Health + Term) Premium rose 42% YoY, with new Health insurance up 46% YoY.
Core renewal / trail revenue on a 12-month rolling basis was ₹1,097 Cr, up from ₹774 Cr a year earlier, a 42% rise. Quarterly core insurance renewal revenue stood at an ARR of ₹1,153 Cr against ₹758 Cr in Q2 last year, up 52% YoY.
Core New Insurance Premium (net of Savings business) grew 41% YoY; including Savings it grew 34% YoY.

Credit marketplace

Core credit revenue for the quarter was ₹125 Cr, up 19% YoY.
Core credit disbursal was ₹2,791 Cr, up 22% YoY, growing sequentially for the fifth consecutive quarter.

Profitability

Contribution (non-GAAP) was ₹631 Cr at a 29% margin; Core Online contribution was ₹583 Cr at 44%.
Adjusted EBITDA (non-GAAP) was ₹216 Cr, up 39% YoY, at a 10% margin; Core Online adjusted EBITDA was ₹259 Cr at 19%.
EBITDA was ₹166 Cr, up 69% YoY; ESOP charges ₹51 Cr, depreciation ₹44 Cr, finance cost ₹12 Cr, other income ₹100 Cr, tax ₹13 Cr.

New initiatives

New Initiatives revenue was ₹842 Cr, up 28% YoY; quarterly adjusted EBITDA margin stood at -5%, with 6% contribution margin.
PB Partners, the agent aggregator platform, supports over 570k+ advisors; Active Partner count rose to 1.31 lacs in Q2FY27, up 55% YoY, with presence in 19k pin codes. Total Q2FY27 premium for this platform grew 36% YoY to ₹1,989 Cr (Ex GST) and revenue grew 39% to ₹698 Cr.
Q2FY27 UAE Insurance premium grew 36% YoY, with a ~50% non-motor portfolio.

Scale and long-term track record

H1FY27 Total Insurance Premium was ₹17,757 Cr and H1FY27 total loan disbursal was ₹9,105 Cr.
Revenue grew at a CAGR of 51% from ₹280 Cr in Q2FY22 to ₹2,178 Cr in Q2FY27.
PAT margin moved from -73% in Q2FY22 to 9% in Q2FY27; quarterly revenue rose 7.8x in the last 5 years and quarterly PAT improved by ₹397 Cr over the same period.

Points to note from the release

India insurance premium numbers exclude GST, as stated in the release.
Adjusted EBITDA and contribution are described in the release as non-GAAP measures, with adjusted EBITDA excluding ESOP charges.
The release notes an impact of ₹1.09 Cr in FY23-FY26 due to the amalgamation of Makesense Technologies, with financials restated.

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