POLICYBZR — earnings call

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Prepared remarks

fairly prepared part. · Our online marketplaces Policybazaar and Paisabazaar, which we refer to as core business improved their

Our online marketplaces Policybazaar and Paisabazaar, which we refer to as core business improved their adjusted EBITDA by ₹66 Cr year on year for this quarter.

If you remember, we had guided about 6 quarters ago for this number to be between ₹150 to 200 Cr. We are quite pleased in the last 6 quarters.

This is running at about ₹225 Cr, so clearly that ₹150 to 200 Cr was a conservative estimate.

As I said, we're very pleased with our health and term business growth which has been the highest since we went public.

The total insurance premium for the quarter is now reaching an ARR of ₹14,000 Cr. So it's roughly ₹3,500 Cr for the quarter.

Of our total revenue for online business, credit continues to be about 25% of the total revenue.

Our renewal trail, which is the other area which leads to a lot of profit is now up to ₹436 Cr of ARR, up from 294 last year.

And that operates at about 85% margin, and is a significant source of profit growth today.

And in the future.

We maintain a CSAT of 88% and continue to improve our claims support, and customer onboarding services.

The credit business continues to grow very well, and has been adjusted EBITDA positive since December 22.

We are now at an annualized run rate of ₹16,500 Cr disbursal, and about 6 lac credit cards issued on an annual basis.

About 39 million customers have access to the credit score on our platform.

75% of the cards are processed end-to-end digitally, and more than 75% of disbursals are from existing customers.

We continue to strengthen our leadership in new initiatives while building further efficiencies.

Pb Partners, our agent aggregator platform, continues to lead the market in scale and efficiency of operations.

We have moved this business increasingly towards smaller and higher quality advisors.

The quality aspect has started to really play.

It has the highest proportion of non-motor business and is present in 16.3k PIN codes, covering 85% of the PIN codes in India.

We are ever more so convinced about this business than we've been in the past.

Clearly our conviction is growing on this business.

Our UAE premium has grown about 2.5x in since the last year.

Overall on the Consolidated results, the revenue was at about ₹812 crores, and our adjusted ebitda was ₹13 crores.

The PAT loss for the quarter was 21 crores.

And the PAT for H1 increased by ₹358 Cr to minus 33 crores.

We stay confident of delivering the first full year of positive PAT.

That's pretty obvious, because, H2 is always stronger than H1.

And I'm extremely confident that this should be our last quarter of losses.

So next quarter will hopefully have profits.

Happy to take questions now.

impact. · And I think the third point, which is there is that typically in, we start building our call center and our feet

And I think the third point, which is there is that typically in, we start building our call center and our feet on street strength for the second half, because the second half is a bigger period.

So you have to start investing in that.

So that also accounts for a little bit of the opex that you referred Salgaonkar, Sachin: Got it very clear.

And can you give a little bit more color on the reclassification?

We did see other expenses increase on a QoQ basis.

See an increase from 1.3 billion going to 2.

I do think there's a bit of a reclassification, and that's wanted to get bit more clarity on.