Mumbai: Poonawalla Fincorp, a part of the Adar Poonawalla group, reported a net profit of Rs 265 crore for the quarter ending December 2023, reflecting a 76% increase compared to the previous year and a 15% growth within the quarter.
The company’s board declared an interim dividend of Rs 2 per equity share (100% of face value) for FY2023-24. Quarterly disbursements reached Rs 8,731 crore, marking a 159% year-on-year increase and a 12% quarter-on-quarter uptick. The firm’s Assets Under Management (AUM) grew by 58% to Rs 21,946 crore, indicating a 9% quarter-on-quarter growth.
Despite substantial loan growth, the company’s capital adequacy ratio remained high at 38.2%, while the liquidity buffer stood at Rs 2,973 crore.
Abhay Bhutada, Managing Director of Poonawalla Fincorp, said, “Our recently launched mobile app has gained significant traction, helping us build a robust distribution ecosystem. With the successful completion of our technology transformation, we are now a step ahead in offering a delightful customer experience with innovative and personalized journeys.”
The lender’s gross non-performing assets (NPA) ratio decreased by 36 basis points to 1.33%, aligning with the increase in the loan book size. The Net NPA stands at 0.70%, showing a 19 bps reduction year-on-year and a two bps decrease over the preceding quarter (1%=100bps).
The finance company’s Return on Assets (ROA) increased by 84 basis points to 5.3%, marking an 84 bps rise from 4.46% a year ago. The Net Interest Margin (NIM) improved by 33 basis points over the previous year to 11.02%.
