PB Fintech To Turn Profitable By FY24, Says CEO Yashish Dahiya

Dahiya expects Policybazaar to register a Rs 50 crore in profit and Paisabazaar to make ‘some profit’ in the fourth quarter. But, the new initiatives segment will lose Rs 35 crore, while the company reports an interest income of around Rs 70 crore, he said.

“From a cash flow perspective, we would add about Rs 75 crore to the business,” he said, but due to the non-cash ESOP charges of Rs 150 crore, PB Fintech will still make losses. However, on an annualised basis, it would be the last year of reporting losses as ESOP charges fall to Rs 75 crore per quarter, he said.

“So Paisabazaar and Policybazaar would start making more money while new initiative losses and ESOP charges come down,” Dahiya said.

“According to me, FY24 would be the first year that as a company, we would make a profit on a profit-after-tax basis,” he said.