Pune, January 18, 2024 (GNI): The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC, focusing on consumer and MSME finance, today announced its unaudited financial results for the quarter ended December 31, 2023.
The Company continued to register robust financial performance, demonstrating strong growth in AUM & profitability, superior asset quality and customer engagement during this period.
Key Highlights – Q3FY24:
Assets:
- Highest Ever Quarterly Disbursement: Poonawalla Fincorp has achieved the highest ever quarterly disbursement of ₹8,731 crore, up 159% YoY and 12% QoQ.
- Assets Under Management (AUM): Poonawalla Fincorp’s Assets Under Management (AUM) stood at ₹21,946 crore, up 58% YoY and 9%QoQ.
Asset Quality:
- GrossNPAat 1.33%, reduced36 bps YoY and 3 bps QoQ.
- NetNPAat 0.70%, reduced 19 bps YoY and 2 bps QoQ.
Profitability:
- Profit After Tax (PAT): Poonawalla Fincorp reported Highest Ever quarterly PAT of ₹265 crore, up 76% YoY and 15% QoQ*.
- ReturnonAssets(RoA) stoodat 5.3%, up 84 bpsYoY and 34 bps QoQ*.
- Net Interest Margin (NIM) was at 11.02%, an improvement of 33 bps YoY.
- Opex to AUM ratio stood at 4.00%, an improvement of 206 bps YoY and 18 bps QoQ.
- OperatingProfit(PPOP)was at ₹350 crore, up 125% YoY and 4% QoQ.
Dividend: The Board has declared an interim dividend of ₹2 per equity share (100% of face value) for FY2023-24.
Capital Adequacy and Liquidity:
- CapitalAdequacyRatiostood at 38.2%.
- Liquiditybuffer stood at ₹2,973 crore.
Commenting on the results, Mr. Abhay Bhutada, Managing Director, Poonawalla Fincorp, said,
“We continued to showcase exemplary growth in Q3FY24 with highest ever quarterly disbursement & profit and strong AUM growth while maintaining a superior asset quality. Our recently launched mobile app has gained significant traction thereby helping us build a robust distribution ecosystem. With successful completion of our technology transformation, we are now a step ahead to offer a delightful customer experience with innovative and personalized journeys.”
About Poonawalla Fincorp Limited : Poonawalla Fincorp Limited (“the Company”) is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Company’s identity “P” stands for Passion, Principles, Purpose, People and Possibilities. The Company has widespread coverage across 19 states. The Company has standalone AUM of ₹21,946 crore as on December 31, 2023, and employs around 2300 people. The Company’s financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans.
| For more information, please log on to: www.poonawallafincorp.com |
| For media queries contact: corporatecommunications@poonawallafincorp.com |
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