PB Fintech shares on fire with strong Q3 performance, analysts hike target price

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February 13, 2023
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The company reported a 66 percent jump in operational revenue to Rs 610 crore from Rs 298 crore reported in Q3FY22.

Shares of PB Fintech, the parent company of Paisabazaar and Policybazaar, opened up 3 percent higher on the NSE at Rs 533.05 apiece on Monday.

The company had reported a 66 percent on-year jump in its operational revenue at Rs 610 crore on Friday. Its net loss narrowed to Rs 87 crore, compared to Rs 298 crore reported a year back.

Brokerage firm ICICI Securities has maintained a ‘buy’ rating on the stock while increasing its target price to Rs 600 per share from Rs 550 earlier.

“The crux of the business remains an exponential increase in contribution driven by (1) renewals, (2) new business growth and (3) efficiencies in new business growth (offline is a big imperative here),” the brokerage said. The performance has been good on all counts with encouraging premium growth, strong disbursements reported by Paisabazaar, lowering of losses in new initiatives business as well as stable fixed costs, it added.

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