Poonawalla Fincorp records highest ever quarterly PAT of Rs 265 crore in Q3FY24, surges 76% YoY

Poonawalla Q3 results: Poonawalla Fincorp Limited, a leading player in the non-banking financial corporation (NBFC) sector, has reported its highest-ever quarterly profit after tax (PAT) for the quarter ended December 31, 2023. The company's board has declared an interim dividend of Rs 2 per equity share (100 per cent of face value) for FY2023-24.

Poonawalla Fincorp also reported its highest-ever quarterly disbursement at Rs 8,731 crore, marking a substantial increase of 159 per cent YoY and 12 per cent QoQ. The company's assets under management (AUM) stands at Rs 21,946 crore, reflecting a remarkable growth of 58 per cent YoY and 9 per cent QoQ.

Asset quality

• Gross NPA at 1.33 per cent, showcasing a reduction of 36 basis points (bps) YoY and 3 bps QoQ.
• Net NPA at 0.70 per cent, demonstrating a reduction of 19 bps YoY and 2 bps QoQ.

Profitability

• Highest Ever Quarterly Profit After Tax (PAT): Rs 265 crore, exhibiting a remarkable surge of 76 per cent YoY and 15 per cent QoQ.
• Return on Assets (RoA): RoA stands at 5.3 per cent, reflecting an increase of 84 bps YoY and 34 bps QoQ.
• Net Interest Margin (NIM): NIM was recorded at 11.02 per cent, showcasing an improvement of 33 bps YoY.
• Operating Profit (PPOP): Rs 350 crore, witnessing a surge of 125 per cent YoY and 4 per cent QoQ.

Abhay Bhutada, Managing Director, Poonawalla Fincorp, stated, “We continued to showcase exemplary growth in Q3FY24 with the highest ever quarterly disbursement & profit and strong AUM growth while maintaining superior asset quality. Our recently launched mobile app has gained significant traction, thereby helping us build a robust distribution ecosystem.”

"With the successful completion of our technology transformation, we are now a step ahead to offer a delightful customer experience with innovative and personalised journeys," he added.

In addition to these financial milestones, the company also announced plans to raise funds via the issuance of non-convertible debentures for up to Rs 40,00 crore, underlining its commitment to sustained growth and financial strength.

The shares of Poonawalla Fincorp ended 2.73 per cent higher at Rs 496.75 apiece on the NSE on Thursday, January 18.