The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC, focusing on consumer and MSME finance, on Friday announced its unaudited financial results for the quarter ended September 30, 2023.
The Company achieved remarkable milestones, demonstrating strong financial growth and customer engagement during this period.
Key Highlights – Q2FY24 (Standalone):
Assets:
Highest Ever Quarterly Disbursement: Poonawalla Fincorp has achieved the highest ever quarterly disbursement of ₹ 7,807 crore, up 151% YoY and 11% QoQ.
Assets Under Management (AUM): Poonawalla Fincorp's Assets Under Management (AUM) stood at ₹ 20,215 crore, up 54% YoY and 14% QoQ. It reflects the trust and confidence placed by its customers.
Asset Quality:
Gross NPA at 1.36%, reduced 41 bps YoY and 6 bps QoQ.
Net NPA at 0.72%, reduced 22 bps YoY and 4 bps QoQ.
Profitability:
Profit After Tax (PAT) (excluding exceptional items): Poonawalla Fincorp reported Highest Ever quarterly PAT of ₹ 230 crore, up 77% YoY and 15% QoQ. This showcases the company's strong financial performance.
Return on Assets (RoA) (excluding exceptional items) stood at 5.0%, up 96 bps YoY and 19 bps QoQ.
Net Interest Margin (NIM) was at 11.42%, an improvement of 106 bps YoY and 2 bps QoQ.
Operating expenses stood at ₹ 194 crore, down 8% YoY.
Operating Profit (PPOP) was at ₹ 336 crore, up 167% YoY and up 14% QoQ.
Capital Adequacy and Liquidity:
Capital Adequacy Ratio stood at 42%.
Liquidity buffer stood at ₹ 3,823 crore.
Commenting on the results, Abhay Bhutada, Managing Director, Poonawalla Fincorp, said, “The first half of FY24 has been extremely promising for us with exceptional results for the second quarter as well. We continued to build on the momentum by crossing ₹ 20,000 crore mark in AUM, achieving highest profitability, best-in-class asset quality and significant growth across various financial parameters. We have started offering instant personal loans through our recently launched cutting-edge mobile app, a step forward in shaping the financial landscape. We are fully prepared and excited about the journey ahead and are confident of delivering stellar performance going ahead.”
