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PB Fintech Q2 FY27 results: net profit up 42.6% to ₹192.39 crore, revenue up 35.0%
PB Fintech Limited reported consolidated revenue of ₹2,178 crore in Q2 FY27, up 35.0% from the year-ago quarter, while net profit rose to ₹192.39 crore and basic EPS increased to ₹4.16. EBITDA was ₹165.50 crore, with a 7.6% margin, compared with 6.1% in Q2 FY26.
Key points
- Consolidated revenue rose 35.0% year on year to ₹2,178 crore and increased 15.3% from Q1 FY27.
- EBITDA rose 69.2% to ₹165.50 crore, while the margin expanded 1.5 percentage points to 7.6%.
- Net profit increased 42.6% to ₹192.39 crore from ₹134.89 crore, and basic EPS rose to ₹4.16.
- Insurance broker services revenue grew 41.1% to ₹2,015.19 crore, with EBIT of ₹252.3 crore.
- The stock closed 6.9% below its pre-results close on the reaction day and was down 7.8% by the next day's close.
How did PB Fintech perform in Q2 FY27?
PB Fintech reported consolidated revenue of ₹2,178 crore in Q2 FY27, up 35.0% from ₹1,614 crore in Q2 FY26 and 15.3% from ₹1,888 crore in Q1 FY27. EBITDA rose to ₹165.50 crore from ₹97.82 crore a year earlier, while the margin increased 1.5 percentage points to 7.6%.
Net profit for the quarter was ₹192.39 crore, compared with ₹134.89 crore in Q2 FY26 and ₹162.91 crore in Q1 FY27. Basic EPS was ₹4.16, up from ₹2.94 in the year-ago quarter and ₹3.53 in the previous quarter. PBT was ₹209.90 crore.
The board also approved un-audited standalone and consolidated results for the quarter and half year ended 30 September 2026. On the standalone basis, revenue was ₹5.4 crore and profit before tax was ₹0.69 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,178 | 1,888 | 1,614 | +35.0% | +15.3% |
| Other income | 99.85 | 93.04 | 84.51 | +18.2% | +7.3% |
| Total expenses | 2,068 | 1,800 | 1,559 | +32.6% | +14.9% |
| EBITDA | 165.50 | 139.27 | 97.82 | +69.2% | +18.8% |
| EBITDA margin | 7.6% | 7.4% | 6.1% | +1.5 pp | +0.2 pp |
| Profit before tax | 209.90 | 181.06 | 139.24 | +50.7% | +15.9% |
| Tax | 13.02 | 15.67 | 7.17 | +81.6% | −16.9% |
| Net profit | 192.39 | 162.91 | 134.89 | +42.6% | +18.1% |
| EPS (₹) | 4.16 | 3.53 | 2.94 | +41.5% | +17.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in PB Fintech's costs and profit?
Total expenses increased 32.6% from Q2 FY26 to ₹2,068 crore, with employee cost up ₹172.75 crore to ₹772.76 crore and other expenses up ₹323.73 crore to ₹1,239 crore. Finance costs rose ₹2.44 crore to ₹11.67 crore, while depreciation increased ₹9.92 crore to ₹43.78 crore.
Other income increased by ₹15.34 crore to ₹99.85 crore, and there was no exceptional item. Tax expense rose by ₹5.85 crore to ₹13.02 crore. EBITDA rose by ₹67.68 crore, PBT by ₹70.66 crore and net profit by ₹57.50 crore against Q2 FY26.
Against Q1 FY27, total expenses were up ₹267.40 crore, led by other expenses rising ₹206.17 crore and employee cost rising ₹57.03 crore. Other income increased ₹6.81 crore, while tax fell ₹2.65 crore; there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 772.76 | 600.01 | +172.75 | +28.8% |
| Finance costs | 11.67 | 9.23 | +2.44 | +26.4% |
| Depreciation | 43.78 | 33.86 | +9.92 | +29.3% |
| Other expenses | 1,239 | 915.72 | +323.73 | +35.4% |
| Total expenses | 2,068 | 1,559 | +508.84 | +32.6% |
| Other income | 99.85 | 84.51 | +15.34 | +18.2% |
| Tax | 13.02 | 7.17 | +5.85 | +81.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, revenue was ₹4,065.99 crore, up 37.3% from ₹2,961.54 crore in H1 FY26. Total income rose 35.4% to ₹4,258.88 crore from ₹3,144.81 crore, while PBT increased 69.9% to ₹390.96 crore.
Net profit for the first half was ₹355.3 crore, up 61.8% from ₹219.54 crore in H1 FY26. Basic EPS increased 60.5% to ₹7.69 from ₹4.79.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4,066 | 2,962 | +37.3% |
| Profit before tax | 390.96 | 230.13 | +69.9% |
| Net profit | 355.30 | 219.54 | +61.8% |
| EPS (₹) | 7.69 | 4.79 | +60.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹9,374.65 crore, compared with ₹8,706.52 crore on 31 March 2026, and total equity was ₹7,780.44 crore against ₹7,317.52 crore. Borrowings were ₹0 crore on both dates.
Cash fell to ₹389.8 crore from ₹746.26 crore, while trade receivables rose to ₹2,115.85 crore from ₹1,728.7 crore and trade payables increased to ₹552.81 crore from ₹471.13 crore. H1 FY27 operating cash flow was ₹62.25 crore, compared with negative ₹110.81 crore in H1 FY26.
Investing cash flow was negative ₹377.99 crore in H1 FY27, against negative ₹169.56 crore a year earlier, while financing cash flow was negative ₹45.56 crore compared with negative ₹41.73 crore. Capital expenditure was ₹112.93 crore, against ₹26.84 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 9,375 | 8,707 |
| Total equity | 7,780 | 7,318 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 389.80 | 746.26 |
| Inventories | 0 | 0 |
| Trade receivables | 2,116 | 1,729 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 62.25 | −110.81 |
| Cash from investing | −377.99 | −169.56 |
| Cash from financing | −45.56 | −41.73 |
| Capital expenditure | 112.93 | 26.84 |
Source: Company's results filing (XBRL).
How has PB Fintech done over the last 8 quarters?
Revenue reached its highest level of the reported series in Q2 FY27 at ₹2,178 crore, after ₹1,888 crore in Q1 FY27. Net profit was ₹192.39 crore, below the series peak of ₹261.16 crore in Q4 FY26 but above ₹162.91 crore in the preceding quarter.
The EBITDA margin rose from 2.1% in Q3 FY25 to 7.6% in Q2 FY27, after peaking at 10.6% in Q4 FY26 and falling to 7.4% in Q1 FY27. Revenue and profit each rose year on year in each of the last eight quarters.
Which businesses drove the quarter?
Insurance broker services generated revenue of ₹2,015.19 crore in Q2 FY27, up 41.1% from ₹1,428.16 crore in Q2 FY26. EBIT was ₹252.3 crore, compared with ₹188.27 crore a year earlier, and the segment margin was 12.5%.
Other services recorded revenue of ₹162.52 crore, down 12.3% from ₹185.39 crore in Q2 FY26. EBIT was a loss of ₹35.22 crore, compared with a loss of ₹36.98 crore in the year-ago quarter, while the margin was negative 21.7%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Insurance broker services | 2,015 | +41.1% | 252.30 | 12.5% |
| Other services | 162.52 | −12.3% | −35.22 | -21.7% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, together with the auditors’ limited review reports. It also approved the earnings release and a press release.
A same-day filing said HDFC Mutual Fund’s schemes increased their aggregate holding in PB Fintech by 2.02% as of 28 October 2026, taking the stake to 7.03%. The filing did not report a dividend, fund raise or appointment.
What did PB Fintech's management say?
Management said PB Health is targeting a monthly revenue run rate of ₹40–50 crore by March 2027, equivalent to about ₹500 crore for the year, while remaining broadly break-even. The current hospital portfolio is to be executed and stabilised over the next 6–12 months, with external hospital operations and maintenance assessed after about 18 months.
Management said variable and discretionary costs will be aligned with the net present values permitted by the final IRDA framework, but disclosed no quantified savings target. It also said it had no intent to return to cash burn, subject to the final regulations and net present values.
Chairman and Group CEO Yashish Dahiya said: “We will implement the final framework fully and in its spirit.” He added: “However, yes, we will be more conscious about the balance between growth and cost than we were in the past.” On customer investment, he said: “We will not cut back on the customer proposition. Not one step back on that.”
Management identified weak near-term insurance demand, GST base effects, the viability of the POSP model under open-architecture economics and regulatory approval for PaisaBazaar and non-insurance initiatives as risks. It also said the new initiatives remain close to breakeven and have not yet established themselves as an offset to insurance pressure.
How did PB Fintech shares react?
The filing appeared after market hours. PB Fintech was down 2.3% after five minutes, down 1.6% after 15 minutes and down 0.7% after 30 minutes. It closed 6.9% below its pre-results close on the reaction day, while the Financial Technology (Fintech) industry median rose 1.9%.
By the next day’s close, the stock was down 7.8% from its pre-results close. The industry median gain over the same closes was 4.3%, leaving PB Fintech 12.1 percentage points behind the sector median. Earlier reaction-day moves included declines of 1.8% on 5 August 2026 and 5.7% on 2 February 2026.
| After the filing | Stock | Financial Technology (Fintech) median |
|---|---|---|
| 5 minutes | −2.3% | |
| 15 minutes | −1.6% | |
| 30 minutes | −0.7% | |
| Reaction day | −6.9% | +1.9% |
| Next day | −7.8% | +4.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 5 August 2026 | −1.8% |
| 6 May 2026 | −1.1% |
| 2 February 2026 | −5.7% |
| 29 October 2025 | +6.8% |
| 31 July 2025 | −1.5% |
| 15 May 2025 | −0.7% |
| 30 January 2025 | +4.6% |
| 5 November 2024 | +2.6% |
Source: MarketPing price-reaction measurement.
How did other Financial Technology (Fintech) companies do?
Five other Financial Technology (Fintech) companies that had filed for the quarter had a median revenue growth of 24.0%, below PB Fintech’s 35.0% growth. All five grew slower than PB Fintech, while none grew faster, and four of the five reported higher profit.
| PB Fintech revenue growth (YoY) | +35.0% |
|---|---|
| Median of 5 other Financial Technology (Fintech) companies | +24.0% |
| Companies with slower revenue growth than PB Fintech | 5 of 5 |
| Companies with faster revenue growth than PB Fintech | 0 of 5 |
| Companies whose net profit rose | 4 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was PB Fintech's revenue in Q2 FY27?
Revenue from operations was ₹2,178 crore, up 35.0% from ₹1,614 crore in Q2 FY26 (consolidated).
Did PB Fintech make a profit in Q2 FY27?
Yes. Net profit was ₹192.39 crore, against a net profit of ₹134.89 crore in Q2 FY26.
What was PB Fintech's EPS in Q2 FY27?
Basic earnings per share were ₹4.16, against ₹2.94 in Q2 FY26.
How did PB Fintech shares react to the Q2 FY27 results?
On the reaction day the stock moved −6.9% from the previous close; the median Financial Technology (Fintech) stock moved +1.9%.
When did PB Fintech announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval, Inter-Alia, Of The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On Friday, October 30, 2026 (BSE, 30 October 2026) · PDF
- Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 30 October 2026) · PDF
- The earnings call (30 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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