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Policybazaar parent’s loss widens 55% to Rs 297 cr in Q3, revenue up 73%

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Policybazaar parent’s loss widens 55% to Rs 297 cr in Q3, revenue up 73%

PB Fintech, the parent company of recently listed online insurance aggregator Policybazaar, saw its net loss jump 55% year-on-year to Rs 297 crore in the December quarter (Q3). Meanwhile, the company’s revenue rose 73% to Rs 367 crore in the same period.

While the company’s insurance premiums (via Policybazaar) rose 68% to Rs 1,796 crore in the third quarter, credit disbursements (via Paisabazaar) rose 94% to Rs 1,926 crore. Adjusted EBITDA (non-GAAP) lost Rs 920 crore, reflecting investments in new initiatives and brand advertising.

According to the company’s financials, its insurance aggregation services accounted for 53% of total revenue of Rs 3.67 crore in Q3FY22, compared to 65% of total revenue of Rs 2.12 crore in the same period last year.

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Yashish Dahiya, Chairman and Group CEO of PB Fintech, said: “Scale is critical to success in any market. Our current ARR (annual recurring revenue) is over Rs 8,000 crore, a 60% year-on-year increase. Our existing business Profit margins remain at 40%.”

According to him, while the ARR of renewals revenue is over Rs 2.1 crore, the 90% margin on renewals will be the biggest driver of the company’s long-term profitability.

Alok Bansal, Executive Director and Group Chief Financial Officer added: “Policybazaar premiums have grown 45 times over the past 8 years and Paisabazaar’s loan disbursements have grown 46 times over the past 7 years. Given the country’s low insurance and credit penetration and With increased digitalization, we are confident about future growth and profitability prospects.”

Complete News Source : Business Standard

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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