PB Fintech Share Price in Focus Amid GST Directorate Enquiry

The Directorate General of GST Intelligence (DGGI), Gurugram, Haryana, conducted a search and enquiry at a wholly-owned subsidiary of PB Fintech Limited. The visit focused on collecting information regarding certain vendors associated with the subsidiary. The share price of PB Fintech was trading at ₹1,690 as of 9:37 AM on January 14, 2025.

Regulatory Compliance and Transparency

PB Fintech Limited, adhering to Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, promptly disclosed this development to the National Stock Exchange (NSE) and BSE Limited. The company has cooperated with the authorities by providing the requested information and has committed to supplying additional details if required in the future.

Nature of the Inquiry

The GST officials’ visit was related to vendor compliance and transactional data. However, no violations or contraventions have been identified or alleged against PB Fintech or its subsidiary at this time.

Financial and Operational Impact

PB Fintech clarified that this event has not impacted its financial or operational activities. The company maintains its stance on regulatory compliance and operational transparency, ensuring minimal disruption to its business operations.

Quarterly Performance

PB Fintech, the parent company of Policybazaar and Paisabazaar, achieved its fourth consecutive profitable quarter in the September quarter, driven by significant growth in health and life insurance premiums.

The company recorded a 44% increase in operational income, reaching ₹1,167 crore in Q2 FY25, compared to ₹811 crore during the same period in the previous financial year.

Net profit for the second quarter of FY25 rose to ₹51 crore, a notable turnaround from the ₹21 crore loss reported in the September quarter of FY24.

The health and life insurance segment witnessed a 69% growth, with total insurance premiums collected amounting to ₹5,450 crore during the quarter.

About PB Fintech Limited

PB Fintech Limited is the parent company of Policybazaar and Paisabazaar, leading platforms in the financial services space. The company continues to uphold its commitment to regulatory compliance and stakeholder trust.

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