PB Fintech, the parent company of PolicyBazaar, reported strong growth in revenue and profit for FY26, as higher insurance premiums and improved operating efficiency boosted earnings.
The Gurugram-based company posted total revenue of Rs 6,794 crore for the year ended March 2026, up 37% from Rs 4,977 crore a year earlier. Profit after tax rose 115% to Rs 670 crore, while profit margins improved to 10% from 6%.
The fintech company’s insurance premium collections increased 42% year-on-year to Rs 29,934 crore, driven by growth in both its core online business and newer initiatives. Protection products, including health and term insurance, recorded particularly strong demand, with premiums rising 57%.
Its core online insurance business continued to be its main profit driver, with premiums growing 39% to Rs 20,390 crore, while revenue from the segment has more than tripled over the past four years and adjusted EBITDA margins improved to 21%, the company said.
New business initiatives also expanded rapidly, contributing Rs 9,544 crore in premiums, up 47% from the previous year.
The company said its UAE business turned profitable during FY26.
Lending disbursals across the business rose 50% over the year, although the core online lending segment declined 20% following what the company described as a temporary reset after its Q1FY26 “reboot”. Sequential quarterly improvements were later recorded.
Adjusted EBITDA for the year climbed 118% to Rs 725 crore, while overall EBITDA rose 450% to Rs 509 crore. Contribution margins and operational leverage also improved as the company scaled its businesses.
The results marked a significant turnaround from four years ago. PB Fintech reported that revenue had increased nearly fivefold since FY22, rising from Rs 1,425 crore to Rs 6,794 crore.
Over the same period, it moved from a loss of Rs 833 crore to a profit of Rs 670 crore.
Quarterly performance also remained strong in the final three months of FY26. Its revenue in the March quarter rose 37% year-on-year to Rs 2,061 crore, crossing the Rs 2,000 crore mark, while net profit increased 54% to Rs 261 crore, while quarterly profit margins improved to 13% from 11% a year earlier.
Insurance broking services remained the company’s largest source of income, contributing Rs 1,901 crore in Q4 revenue, up 44% from the same period last year.
The company earned an additional Rs 104 crore from interest income and gains on financial assets, taking total quarterly income to Rs 2,166 crore.
Total expenses during the quarter rose 31% to Rs 1,888 crore. Employee benefit expenses increased more than 37% to Rs 699 crore, while advertising and promotional spending climbed 34% to Rs 371 crore.
Despite higher costs, profit growth outpaced expenses as revenue expansion and stronger margins improved profitability.
Total insurance premiums in Q4 FY26 rose 46% to Rs 9,217 crore, helped by 44% growth in the core online business and 50% growth in new initiatives. Protection premiums increased 67% during the quarter.
In Q4 FY26, core online lending disbursals grew about 11% year-on-year, while lending remained a mixed business overall.
The results show PB Fintech continued to improve profitability while expanding both its core insurance operations and newer businesses.
“We continue to strengthen our leadership in New initiatives in FY26 with full year revenue growth of 43% YoY, adjusted EBITDA margin improving from -9% to -4% for the year, with 5% contribution margin,” the company said.
“We continue to improve our customer onboarding & claims support services and Insurance CSAT is consistent above 90%,” it said.
Yashish Dahiya, Chairman and CEO of PB Fintech, said the company’s focus remained on growth and customer service. “The main thing now is that we must continue to drive fresh growth, bring new customers to the insurance industry and service them well. That’s really our focus,” he said.
“We grew 42% year on year to almost 30,000 crores. I wish it was 30,000 crores but it’s 29,934 crores led by new protection premium which grew at 57% year on year and the PAT is at 670 crores which represents 2.2% of our premium. Now for the full year our insurance premium obviously grew at 42% but for the quarter it grew at 46% year on year. So what I’m trying to say is as we get towards the end of the year, the speed has increased a little bit. The core online insurance premium is up 39% for the year and the new protection premium is up 57% for for the year,” Dahiya said.
“Our renewals is a large contributor to our future growth of profits. But that has gone up for the last 12 months rolling from 668 crores to 935 crores, up to 267 crores. And for the quarter this is at an ARR of 1126 crores, up from 689 crores. So that’s a growth of 63% year on year. And this is one of the key drivers, not the only driver. I must emphasize that the new business is also contributing to increasing profits and doing so very handsomely,” he added.
