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Pune, Maharashtra, India:
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.”
About Poonawalla Fincorp
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 Rs 17,776 crore as on June 30, 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
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