Non-banking Financial company Poonawalla Fincorp announced Q3FY24 results: Financial Performance: - The company recorded its highest-ever quarterly Profit After Tax (PAT) of Rs 265 crore, marking a sharp increase of 76% year-over-year (YoY). - There was a noteworthy rise in the quarterly disbursements that reached a new high of Rs 8,731 crore, showing a significant climb of 159% YoY and 12% quarter-over-quarter (QoQ). - Operating Profit (PPOP) reached Rs 350 crore, indicating a substantial growth of 125% YoY and 4% QoQ. Asset Management and Quality: - Poonawalla Fincorp's Assets Under Management (AUM) stood at Rs 21,946 crore, up 58% YoY and 9% QoQ. - Gross Non-Performing Assets (NPA) were reported at 1.33%, presenting a YoY decrease of 36 basis points (bps) and a marginal QoQ dip of 3 bps. - Net NPA showed improvement, coming down to 0.70%, reducing by 19 bps YoY and 2 bps QoQ. Profitability Metrics: - Return on Assets (ROA) was observed at 5.3%, an uplift of 84 bps YoY and 34 bps QoQ. - The Net Interest Margin (NIM) experienced an improvement, recording at 11.02%, up by 33 bps YoY. - The ratio of Operating Expenses to AUM improved, standing at 4.00%, showing a decrease of 206 bps YoY and 18 bps QoQ. Capital Adequacy and Liquidity: - The Capital Adequacy Ratio was strong at 38.2%. - The company maintained a healthy liquidity buffer of Rs 2,973 crore. Dividends: - The board declared an interim dividend of Rs 2 per equity share, equating to a 100% payout of the face value for FY24. Commenting on the results, Abhay Bhutada, Managing Director, Poonawalla Fincorp, said, “We continued to showcase exemplary growth in Q3FY24 with highest ever quarterly disbursement & profit and strong AUM growth while maintaining a superior asset quality. Our recently launched mobile app has gained significant traction thereby helping us build a robust distribution ecosystem. With the successful completion of our technology transformation, we are now a step ahead to offer a delightful customer experience with innovative and personalized journeys.” Result PDF
Non-banking Financial company Poonawalla Fincorp announced Q2FY24 results: Financial Performance Record-breaking Profit: Poonawalla Fincorp reported its highest-ever quarterly Profit After Tax (PAT) of Rs 230 crore in Q2FY24, marking a significant increase of 77% compared to the same period last year. Strong Disbursement Growth: The company achieved its highest-ever quarterly disbursement of Rs 7,807 crore, showcasing a remarkable growth of 151% YoY and 11% QoQ. Robust Asset Quality: Poonawalla Fincorp maintained a strong asset quality with Gross Non-Performing Assets (NPA) reducing to 1.36%, a decrease of 41 basis points YoY. Net NPA also improved to 0.72%, marking a decrease of 22 basis points YoY. Impressive Asset Under Management (AUM): The company's AUM reached a new high of Rs 20,215 crore, reflecting a strong growth of 54% YoY and 14% QoQ. This increase demonstrates the trust and confidence of its customers in Poonawalla Fincorp. Financial Ratios and Performance Indicators Capital Adequacy and Liquidity: Poonawalla Fincorp maintained a robust capital adequacy ratio of 42% and a liquidity buffer of Rs 3,823 crore, ensuring a strong financial position. Return on Assets (ROA): The company achieved a Return on Assets (ROA) of 5.0%, showing an improvement of 96 basis points YoY and 19 basis points QoQ. Net Interest Margin (NIM): Poonawalla Fincorp's Net Interest Margin (NIM) stood at 11.42%, indicating an improvement of 106 basis points YoY and 2 basis points QoQ. Controlled Operating Expenses: The company successfully reduced operating expenses to Rs 194 crore, showcasing a decrease of 8% YoY. Profit from Operations (PPOP): Poonawalla Fincorp achieved an operating profit of Rs 336 crore, marking a substantial increase of 167% YoY and 14% QoQ. Commenting on the results, Abhay Bhutada, Managing Director, Poonawalla Fincorp, said, “The first half of FY24 has been extremely promising for us with exceptional results for the second quarter as well. We continued to build on the momentum by crossing the Rs 20,000 crore mark in AUM, achieving the highest profitability, best-in-class asset quality, and significant growth across various financial parameters. We have started offering instant personal loans through our recently launched cutting-edge mobile app, a step forward in shaping the financial landscape. We are fully prepared and excited about the journey ahead and are confident of delivering stellar performance going ahead.” Result PDF
Non-banking Financial Company Poonawalla Fincorp announced Q1FY24 results: Highest ever quarterly Disbursements at Rs 7,063 crore, up 143% YoY and 11% QoQ. Assets Under Management (AUM) at Rs 17,776 crore, up 41% YoY and 10% QoQ. Direct Digital Program (DDP) contribution in disbursements increased to 86% in Q1FY24 as compared to 81% in Q4FY23. Gross NPA at 1.42%, reduced 126 bps YoY and 2 bps QoQ. Net NPA at 0.76%, reduced 35 bps YoY and 2 bps QoQ Highest ever quarterly PAT at Rs 200 crore for Q1FY24, up 62% YoY and 11% QoQ. Return on Assets (RoA) for Q1FY24 at 4.8%, up 67 bps YoY. Net Interest Margin (NIM) for Q1FY24 was at 11.4%, an improvement of 108 bps YoY and 12 bps QoQ. Operating expenses for Q1FY24 stood at Rs 183 crore, down 4% YoY and 7% QoQ. Operating Profit (PPOP) for Q1FY24 was at Rs 294 crore, up 148% YoY and 39% QoQ. Capital Adequacy Ratio stood at 36% as of June 30, 2023. Liquidity buffer stood at Rs 4,020 crore as of June 30, 2023. Commenting on Poonawalla Fincorp’s Q1FY24 performance, CA Abhay Bhutada, Managing Director, said, “We have taken the FY23 momentum ahead with a fantastic start to FY24. The business growth has been strong, complemented by best-in-class asset quality and superior profitability. Our Fintech model, with a focus on increasing productivity and improving efficiency, has led to a further reduction in operating expenses. We continue to focus on the future as we constantly innovate, invest in future trends, remain agile, and build a deep eco-system play. We are all geared up and excited about the journey ahead and are confident of delivering an exceptional performance.” Result PDF