Finance company Poonawalla Fincorp announced Q4FY23 results: Standalone Q4FY23: Highest ever quarterly Disbursements at Rs 6,371 crore, up 151% YoY and 89% QoQ Assets Under Management (AUM) at Rs 16,143 crore, up 37% YoY and 16% QoQ Direct Digital Program (DDP) contribution in disbursements increased to 81% in Q4FY23 as compared to 66% in Q3FY23 and to 24% in Q4FY22 Gross NPA at 1.44%, reduced 185 bps YoY and 25 bps QoQ Net NPA at 0.78%, reduced 52 bps YoY and 11 bps QoQ Highest ever PAT at Rs 181 crore for Q4FY23, up 103% YoY and 20% QoQ. Highest ever Return on Assets (RoA) for Q4FY23 at 5%, up 178 bps YoY and 53 bps QoQ. Net Interest Margin (NIM) for Q4FY23 was at 11.3%, an improvement of 87 bps YoY and 59 bps QoQ. Operating expenses for Q4FY23 stood at Rs 196 crore, down 4% QoQ Operating Profit (PPOP) for Q4FY23 was at Rs 212 crore, up 84% YoY and 36% QoQ Standalone FY23: PAT stood at Rs 585 crore, up 100% YoY RoA stood at 4.4%, up 172 bps YoY NIM was at 10.7%, an improvement of 89 bps YoY The Board has recommended a dividend of Rs 2 per share (100% of face value) for FY23, subject to shareholders’ approval The capital Adequacy Ratio stood at 39% as of March 31, 2023 Liquidity buffer stood at Rs 3,001 crore as of March 31, 2023 CRISIL upgraded the long-term credit rating to AAA. Commenting on Poonawalla Fincorp’s performance, CA Abhay Bhutada, Managing Director, said “FY23 has been a year of exemplary performance across business growth, credit quality and profitability. Our strong fundamentals and execution are reflected in our credit rating upgrade to AAA by both CRISIL and CARE. We have led the way in building a real Fintech model at scale, with asset quality which is best-in-class, along with superior profitability. Our ability to innovate, understand future trends, deliver at pace, and build a strong digital ecosystem, has made us a lender of choice. With an efficient cost of borrowing, lower operating cost, controlled credit cost and a branch-lite tech-led model, we are well poised to deliver a sustainable and exceptional performance.” Result PDF
Finance firm Poonawalla Fincorp announced Q3FY23 results: Q3FY23: Assets Under Management (AUM) at Rs 13,929 crore, up by 28% YoY and 6% QoQ. Focused products AUM at Rs 12,738 crore, up by 75% YoY and 10% QoQ. Highest ever quarterly disbursements at Rs 3,369 crore, up by 157% YoY and 8% QoQ. Highest ever PAT at Rs 150 crore up 88% YoY and 16% QoQ. Highest ever RoA at 4.50% up by 158 bps YoY and 46 bps QoQ. NIM at 10.7%, an improvement of 94 bps YoY and 33 bps QoQ. Opex stood at Rs 204 crore, down by 3% QoQ. PPOP at Rs 156 crore, up 23% QoQ. Gross NPA at 1.69%, down by 236 bps YoY and 8 bps QoQ. Net NPA at 0.89%, down by 108 bps YoY and 5 bps QoQ. The Direct Digital Program (DDP) mix increased to 66% in Q3FY23 from 54% in Q2FY23 and 39% in Q1FY23 and 24% in Q4FY22. Liquidity buffer stood at Rs 3,168 crore as of Q3FY23. Capital Adequacy Ratio stood at 44% as of Q3FY23. Commenting on Poonawalla Fincorp’s performance, CA Abhay Bhutada, Managing Director, said “We are thrilled to be in the middle of this high growth phase with improved asset quality and sustainable profitability for PFL. The quarter gone by, witnessed all round performance on the back of relentless execution with highest ever disbursement, PAT and ROA leading us to high growth trajectory. Q3FY23 also marked the announcement of sale of our housing subsidiary as PFL continues to focus on building a Tech-Led Digital-First financial services company, with leadership position in consumer & MSME financing. As per our long-term guidance on financial metrics, we expect AUM growth of 35-40% with RoA of 4-4.5% as we continue to build a strong retail franchise.” Result PDF