Predicted to enable lysophospholipase activity; phospholipase A2 activity; and retinyl-palmitate esterase activity. Predicted to be involved in phospholipid metabolic process. Predicted to act upstream of or within lipid metabolic process. Predicted to be located in apical plasma membrane. Predicted to be active in brush border membrane. Orthologous to human PLB1 (phospholipase B1).