The Bengaluru-based online insurance aggregator, Policybazaar, and credit card loan can apply through Paisabazaar of PB Fintech, which has given a mixed earning for Q1FY21.
Still, the company was able to prevent the loss of profits; however, the revenue proved to be less: it reduced by 7%. 3% compared to the previous quarter though, the percentage of GST’s turnover was significantly higher, totaling 6.7%. The core insurance broking business was also faced with a similar problem.
Although the revenue has shrunk in the case of PB Fintech, it seems that its aim at controlling costs has indeed reaped benefits. This way, the company maintained relatively well the expenses, primarily such as the employee cost, which frequently ranks as one of the top expenses for tech-based companies.
PB Fintech has achieved operating profits for the third quarter in a row which is a huge achievement for the company. But undesirable change has been detected to decline in revenue and this is something investors need to monitor to check whether the situation is temporary or not.
