"Health, life insurance growth drivers for us"
Business Today India|April 28, 2024
Yashish Dahiya, Chairman & CEO of PB Fintech, talks about focussing on growth, sustaining profit, and the challenges the insurance industry is facing
TEENA JAIN KAUSHAL
"Health, life insurance growth drivers for us"

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 April 28, 2024 edition of Business Today India.

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This story is from the April 28, 2024 edition of Business Today India.

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