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Mumbai: Shares of Poonawalla Fincorp rose 3.9% to Rs 447 after the company reported a sharp increase in loan growth during the October-December 2023 quarter.

In the latest financial update, the company said that total disbursements in Q3FY24 reached an all-time high of Rs 8,730 crore. This represents an increase of 159% year-on-year (YoY) and a 12% quarter-on-quarter (QoQ) growth. Disbursements were Rs 3,369 crore in Q3FY23 and Rs 7,807 crore in Q2FY24.

The company’s Assets Under Management (AUM) grew by 57% YoY and 8% QoQ. As of December 31, 2023, the AUM stood at approximately Rs 21,850 crore.

The company anticipates a further improvement in Asset Quality metrics, specifically Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA). As part of the Management Vision 2025, there is a commitment to maintaining the NNPA below 1%.

The company reported having substantial liquidity reserves of approximately Rs 2,875 crore as of December 31, 2023.

  • Published On Jan 5, 2024 at 12:10 PM IST

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