PB Fintech up 3% as company turns in a profitable quarter

Shares of PB Fintech, the parent company of Policybazaar and Paisabazaar, surged as much as 2.91 per cent intraday to Rs 1,279.55 apiece on Wednesday. By comparison, S&P BSE Sensex fell 0.12 per cent.

The surge came after the company reported a strong set of March quarter results (Q4FY24). PB Fintech posted a profit of Rs 60.2 crore in the fourth quarter of FY24 (Q4 FY24), as compared to a loss of Rs 9.34 crore in the same quarter a year ago.

Notably, the company posted profits for the first time in the third quarter of FY24 (Q3FY24) at Rs 36 crore.