Shares of PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, jumped almost 15% in the early trading hours on Wednesday, a day after the company reported its first quarterly profit since listing. 

PB Fintech’s shares hit a 52-week high of Rs 1,045.30, 14.96% higher than its last closing price on the National Stock Exchange (NSE). At noon, the stock was trading 10.95% higher at Rs 1,008.85. 

PB Fintech reported a profit after tax of Rs 37 crore for the October-December quarter of the financial year 2024, against a loss of Rs 87 crore in the same quarter of the previous fiscal year, given robust growth in insurance premiums, improved renewals with higher margins, and enhanced contributing margins.

The company’s revenue from operations rose 43% to Rs 871 crore for Q3FY24, compared to Rs 610 crore in the corresponding quarter of the last financial year. The increase in revenue can be attributed to the doubled proceeds from its insurance broker services.

Additionally, the company posted a positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin of 4% from the negative 5% margin recorded in the same period last year.