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Poonawalla Fincorp posts highest ever quarterly PAT of Rs 200 Crore in Q1FY24, jumps 62 per cent YoY

By ANI | Updated: July 25, 2023 14:40 IST

BusinessWire IndiaPune (Maharashtra) [India], July 25: The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically ...

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BusinessWire India

Pune (Maharashtra) [India], July 25: 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 June 30, 2023.

Key Highlights – Q1FY24 (Standalone):

Assets:

- Highest ever quarterly Disbursements at Rs 7,063 crore, up 143% YoY and 11% QoQ.

- Assets Under Management (AUM) at Rs 17,776 crore, up 41% YoY and 10% QoQ.

- Direct Digital Program (DDP) contribution in disbursements increased to 86% in Q1FY24 as compared to 81% in Q4FY23.​

Asset Quality:

- Gross NPA at 1.42%, reduced 126 bps YoY and 2 bps QoQ.

- Net NPA at 0.76%, reduced 35 bps YoY and 2 bps QoQ.​

Profitability:

- Highest ever quarterly PAT at Rs 200 crore for Q1FY24, up 62% YoY and 11% QoQ.

- Return on Assets (RoA) for Q1FY24 at 4.8%, up 67 bps YoY.

- Net Interest Margin (NIM) for Q1FY24 was at 11.4%, an improvement of 108 bps YoY and 12 bps QoQ.

- Operating expenses for Q1FY24 stood at Rs 183 crore, down 4% YoY and 7% QoQ.

- Operating Profit (PPOP) for Q1FY24 was at Rs 294 crore, up 148% YoY and 39% QoQ.​

Capital Adequacy and Liquidity:

- Capital Adequacy Ratio stood at 36% as of June 30, 2023.

- Liquidity buffer stood at Rs 4,020 crore as of June 30, 2023.

​Commenting on Poonawalla Fincorp’s Q1FY24 performance, CA Abhay Bhutada, Managing Director, said “We have taken the FY23 momentum ahead with a fantastic start to FY24. The business growth has been strong, complemented with best-in-class asset quality and superior profitability. Our Fintech model, with the focus on increasing productivity and improving efficiency, has led to a further reduction in operating expenses. We continue to focus on the future as we constantly innovate, invest in future trends, remain agile and build a deep eco-system play. We are all geared up and excited about the journey ahead and are confident of delivering an exceptional performance.”

(Disclaimer: The above press release has been provided by BusinessWire India.will not be responsible in any way for the content of the same)

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