Shares of PB Fintech, the parent company of online insurance broker Policybazaar, climbed over 4 percent after revenue more than doubled in the April-June quarter.

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Consolidated revenue stood at Rs 505.18 crore, up nearly 113 percent from the corresponding period in FY22.

At 12:14 pm, shares of PB fintech were trading at Rs 583.5, up of 4.09 percent from the previous close on the BSE.

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On Wednesday, the company reported a consolidated loss of Rs 204.33 crore for the April-June quarter. According to the company's financial performance report, insurance premiums grew 52 percent to Rs 2,430 crore in the quarter ended June, from Rs 1,594 crore in the first quarter of FY22.

"We are at an annual run rate of insurance premium of over Rs 9,700 crore growing 52 percent year-on-year," the company said in a regulatory filing.

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The company's credit disbursal increased 136 percent, up from Rs 984 crore in the year-ago period to Rs 2,320 crore in the quarter under review. Adjusted loss in earnings before interest, tax, depreciation and amortisation (EBIDTA) — a key indicator of a company's profitability — stood at Rs 66 crore as against Rs 42 crore in the first quarter of FY22.

“We are now at the run rate of Rs 11,200 crore disbursal and 4.3 lakh credit card issuance annually. Over 29.5 million customers have accessed credit score on our Paisabazaar platform so far from over 823 different towns,” the company said.

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