Poonawalla Fincorp reports highest quarterly disbursements of Rs 7,050 crore

This implies a growth of about 2.5 times on a year-on-year basis.

Poonawalla Fincorp, an Adar Poonawalla-controlled non-banking finance company reported its highest-ever quarterly disbursements amounting to Rs 7,050 crore for the April-June period for FY24.

This implies a growth of about 2.5 times on a year-on-year basis.

As per a business update on NBFC, total disbursements grew about 143 percent year-on-year to Rs 7,050 crore in the June quarter compared to Rs 2,901 crore in the same period in the previous year.

Disbursements were up 11 percent sequentially.

The company’s Assets Under Management (AUM) increased by 41 percent from the previous year to Rs 17,770 crore as of June 30, 2023. When compared to the March quarter, this growth stood at 10 percent.

The company expects its asset quality to improve further, with an improvement in gross NPAs (Non-Performing Assets) by keeping net NPA levels below 1 percent. These expectations are in-line with its management's Vision 2025.

Poonawalla Fincorp, had reported a 103 percent jump in net profits to Rs 180.4 crore in the March quarter, when compared Rs 383.8 crore in the same quarter last year. Its total revenue was Rs 576.7 crore during the March quarter, an increase of 50.3 percent compared to Rs 383.8 crore, in the same period last year.

Gross NPAs were 1.44 percent in the final quarter of the financial year 2023 against 1.69 percent in the December quarter. Net NPAs were 0.78 percent in January-March against 0.89 percent in the same quarter for FY23.

Currently, shares of Poonawalla Fincorp are trading at 4.2 percent higher at a record high of Rs 373.90. This stock has increased 23 percent on a year-to-date basis.