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

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. ANI will not be responsible in any way for the content of the same)