[What The Financials] PolicyBazaar Stuck In Losses In FY20; Ad Spending Balloons Amid 33% Higher Expenses

Thursday, 04 Feb, 5.54 pm

PolicyBazaar's insurance business reported a healthy 66% increase in revenue from INR 310.3 Cr in FY2019 to INR 515 Cr in FY2020.

On a consolidated basis, the company's expenses touched INR 1150 Cr, with advertising costs making up for 38% of it

PolicyBazaar's CEO Yashish Dahiya claimed in July 2020 that the company aims to cut down on its marketing cost and hit profitability in FY2021

Infocus

Online insurance aggregator platform PolicyBazaar has reported a consolidated revenue of INR 854.7 Cr in the financial year that ended in March 2020, representing a whopping 147% spike from FY2019's INR 345.8 Cr. Despite this, the company could not avoid sliding into the red for a second straight year.