PB FINTECH-THE parent company of Policybazaar and Paisabazaar-turned profitable for the first time in Q3FY24. It reported a consolidated net profit of ₹38 crore, compared to a loss of ₹87 crore in the year-ago period and a loss of around ₹20 crore in the previous quarter. Yashish Dahiya, Chairman & CEO of PB Fintech, talks to Business Today about Policybazaar's idea of growth, importance of back-end integration, and more. Edited excerpts:
How has FY24 been so far in terms of growth and profitability?
We're exceeding expectations in terms of growth, maybe by about 10%. Profit is just a by-product for us, but it's pretty much on expected lines and is on track. Our focus is 80% on growth, knowing that profit follows. I think if you have growth, profit will eventually come. And I think the growth part has done well. So, we feel good about it [profit].
In Q3FY24, Policybazaar made a profit for the first time. Will this be sustainable?
The answer is yes. But please understand that profit is, again, a byproduct. Our business has reached a stage where it just has to make profits and if you go back to whatever we've been saying in previous interviews, it was always [going to be profitable in] Q3FY24. So it was exactly on expected lines.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
