Poonawalla Fincorp Q4 Results | Net profit soars 84%, quarterly disbursement at record high

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Non-bank lender Poonawalla Fincorp Ltd on Monday (April 29) 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, the company said in a regulatory filing.

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.

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.

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Poonawalla Fincorp reported the highest-ever quarterly disbursement of ₹9,688 crore, up 52% YoY and 11% QoQ. The assets under management (AUM) stood at ₹25,003 crore, up 55% over the year-ago period and 14% over the last quarter.

The operating profit was at ₹409 crore for Q4 of FY24, up 93% YoY and 17% QoQ. The capital adequacy ratio stood at 33.8% and the liquidity buffer stood at ₹3,932 crore.

Abhay Bhutada, Managing Director of Poonawalla Fincorp, said, “Our rigour and execution excellence has ensured that we have continuously outperformed and given consistent superior performance resulting in achieving a significant milestone of AUM crossing ₹25,000 crore and PAT crossing ₹1,000 crore.”

Also Read: Cyient Q4 Results | Net profit surges 28.5% over third quarter

The results came after the close of the market hours. Shares of Poonawalla Fincorp Ltd ended at ₹488.80, up by ₹3.95, or 0.81%, on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow