Finance firm Poonawalla Fincorp declares Q3FY22 result: Poonawalla Fincorp Q3FY22 Consolidated Profit Before Tax up 651% YoY to Rs 130 Cr; significant reduction in Credit Costs and improvement in Asset Quality Assets Under Management remained at Rs 15,228 crore NIM increased by 25 bps YoY to 8.8% in Q3FY22, driven largely by reduction in interest expenses Consolidated PBT was up 651% YoY, increasing from Rs 17 crore in Q3FY21 to Rs 130 crore in Q3FY22, driven largely by reduction in interest cost and recovery led credit costs Collections continued to remain buoyant; above 99% in Dec’21 Result PDF
Highlights Poonawalla Fincorp Q2FY22 Consolidated Profit Before Tax up 151% YoY to Rs 126 Cr; Long-term credit rating upgraded by two notches to ‘AA+; Stable’ by Care Ratings. Assets Under Management grew by ~6% QoQ to Rs 15,275 crore NIM increased by 104 bps YoY to 9.1% in Q2FY22 (8.0% in Q2FY21), driven largely by reduction in interest expenses Consolidated PBT was up 151% YoY, increasing from Rs 50 crore in Q2FY21 to Rs 126 crore in Q2FY22, driven largely by reduction in interest expenses and credit costs Collections showed an improving trend from 93.1% in Jun’21 to 98.0% in Jul’21 and further to 99.9% in Sep’21 Result PDF
Conference Call with Adar Poonawalla of Poonawalla Fincorp on next steps for the company following SEBI action. Listen to the full transcript.