POONAWALLA FINCORP Q1 UPDATE: STRONG GROWTH IN DISBURSEMENTS, AUM AND ASSET QUALITY

Non-bank lender Poonawalla Fincorp Ltd on Thursday (July 4) reported strong performance in the first quarter of FY25. The company reported a substantial 52% year-over-year increase in Assets Under Management (AUM), reaching approximately ₹26,970 crore as of June 30, 2024.

Total disbursements during the quarter amounted to approximately ₹7,400 crore, marking a 5% increase from ₹7,063 crore in Q1FY24. The company's Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) are expected to remain below 1.00% and 0.50% respectively.

Furthermore, Poonawalla Fincorp continued to fortify its liquidity position, reporting ample liquidity of around ₹5,200 crore as of the end of June 2024.

Also Read: UCO Bank reports strong Q1 growth with total business up 11.51%

Poonawalla Fincorp reported an 83.6% year-on-year (YoY) jump in net profit at ₹331.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Poonawalla Fincorp posted a net profit of ₹180.7 crore.

Net interest income (NII) grew 57% to ₹640.5 crore against ₹408 crore in the fourth quarter of the previous fiscal. Net interest margin (NIM) came at 11.06% against 11.3% quarter-on-quarter (QoQ).

The gross non-performing assets (NPAs) stood at 1.16% in the March quarter against 1.33% in the December quarter. Net NPAs came at 0.59% against 0.7% QoQ.

Also Read: Bank of Maharashtra Q1 business update: Total deposits rise 9.44%, advances up 19%

In monetary terms, gross NPAs stood at ₹268 crore against ₹275 crore QoQ, whereas net NPA came at ₹136 crore against ₹145 crore over the last (December) quarter.

Shares of Poonawalla Fincorp Ltd ended at ₹416.60, down by ₹0.30, or 0.072% on the BSE.

2024-07-04T18:10:27Z dg43tfdfdgfd