Shares of PB Fintech hit a 52-week high of Rs 1,048 on 1 February after 2.44 crore shares of the company changed hands in a block deal.

Around 2.44 crore shares, representing 5.4% equity of the company, changed hands on the exchange and the buyers and sellers involved in this deal.

The company has turned profitable for the first time, reporting a net profit of Rs 37 crore in the quarter ending on 31 December from Rs 21.1 crore net loss the company had reported in the September quarter of the same fiscal year and an Rs 87.6 crore net loss it had recorded in Q3FY23.

The company’s revenue from operations stood at Rs 871 crore during the quarter, marking a 43% year-on-year growth from Rs 610 crore reported in the same quarter last year.

The EBITDA (earnings before interest, tax, depreciation and amortisation) margins came in on a positive note at 4% from -5% reported in Q3FY24.

The stellar performance in the quarter was led by robust growth in insurance premiums and improvement in contributing margins.

At 1:05 pm, the shares of PB Fintech had shed all their early gains and were trading 0.19% lower at Rs 1,000.45 on NSE.