New Delhi, Feb. 3 -- PB Fintech stock fell around 6% on Tuesday despite the company's decent performance on key parameters in the December quarter (Q3FY26). Among the positives, revenue rose 37% year-on-year to Rs.1,771 crore, driven by growth in core online revenue and new initiatives revenue. Insurance premiums jumped 45% and lending disbursals surged 85%. The adjusted Ebitda margin improved to 11% from 6% last year.

New protection premiums grew 68% year-on-year, with health insurance alone growing nearly 80%. Protection products are stickier, renew every year, and create a long-term annuity stream. This recurring revenue is one of the biggest drivers of steady profit improvement.

However, negative margins in the new initiatives busin...