PB Fintech shares saw a 2% increase on November 6 after the company reported strong Q2 earnings for the quarter ending September 30, 2024.

The stock has performed exceptionally well, surging 131% over the past year, outperforming the Nifty index's 23% increase during the same period.

PB Fintech's parent company, which owns Policybazaar and Paisabazaar, reported its fourth consecutive profitable quarter, driven by significant growth in health and life insurance premiums.

Operational income rose by 44% year-on-year to Rs 1,167 crore, and net profit reached Rs 51 crore, a notable recovery from a loss of Rs 21 crore in the previous year.

The health and life insurance segment experienced impressive growth of 69%, with total premium collections reaching Rs 5,450 crore.

However, PB Fintech's credit business saw a decline in revenue due to a shift in the product mix between secured and unsecured credit, despite loan disbursal figures remaining flat.