Expressnews
Chennai, July 2023
Poonawalla Fincorp, a leading non-banking financial company reported a five per cent jump in its shares after it released its financial results for the quarter that ended 30 June 2023. The company’s latest figures indicate strong growth in disbursements, assets under management (AUM) and a strong focus on maintaining asset quality.
Poonawalla Fincorp revealed that its total disbursements during Q1FY24 reached an all-time high of approximately Rs 7,050 crores, which represents an year-on-year increase of 143 per cent and a quarter-on-quarter growth of 11 per cent.
• Disbursements: Total disbursements during Q1FY24 were highest ever at approximately ₹ 7,050 crores, up 143% YoY and 11% QoQ compared to disbursements of ₹ 2,901 crore in Q1FY23 and ₹ 6,371 crore in Q4FY23. Direct Digital Program (DDP) continued a healthy trajectory, contributing 86% of the total disbursements in Q1FY24 compared to 81% in Q4FY23, 66% in Q3FY23, 54% in Q2FY23 and 32% in Q1FY23
• Assets Under Management (AUM): AUM grew by 41% YoY and 10% QoQ to approximately ₹ 17,770 crore as on 30 June 2023
• Asset quality: GNPA and NNPA are expected to improve further. As guided, we would strive to maintain the NNPA below 1% in line with its Management Vision 2025
• Liquidity: The Company continues to have ample liquidity of approximately ₹ 4000 crore as on 30 June 2023
For more information, please log on to: www.poonawallafincorp.com
