Poonawalla Fincorp achieves record quarterly PAT in Q3FY24, announces 100% interim dividend
Poonawalla Fincorp Limited, a prominent non-deposit taking systemically important NBFC focusing on consumer and MSME finance, has reported its unaudited financial results for the quarter ended December 31, 2023. The company has registered an exceptional financial performance with robust growth in assets under management (AUM) and profitability.
Key Financial Highlights for Q3FY24
– Record Quarterly Disbursement: Poonawalla Fincorp achieved its highest ever quarterly disbursement of ₹8,731 crore, marking a staggering 159% increase year-on-year (YoY) and 12% quarter-on-quarter (QoQ).
– AUM Growth: The AUM of the company stood at ₹21,946 crore, showing a substantial 58% YoY and 9% QoQ increase.
– Impressive Profit After Tax (PAT): The company reported its highest ever quarterly PAT of ₹265 crore, a significant 76% YoY and 15% QoQ* rise.
– Improved Asset Quality: Gross NPA and Net NPA ratios were at 1.33% and 0.57%, respectively, indicating a stable and improving asset quality.
– Strong Capital Adequacy and Liquidity: The Capital Adequacy Ratio (CAR) was robust at 38.2%, with a liquidity buffer of ₹2,973 crore.
Historic High in Quarterly Disbursements and PAT in Q3FY24 for Poonawalla Fincorp
Dividend Declaration
The Board of Directors declared a generous interim dividend of ₹2 per equity share (100% of face value) for FY2023-24, reflecting the company’s strong financial position and commitment to shareholder value.
Management’s Perspective
Abhay Bhutada, Managing Director of Poonawalla Fincorp, commented on the results, emphasizing the company’s significant growth in quarterly disbursement, profit, and AUM while maintaining superior asset quality. He highlighted the success of their recently launched mobile app and the completion of their technology transformation, positioning the company to offer an enhanced customer experience with innovative and personalized journeys.
A Milestone for Poonawalla Fincorp
Poonawalla Fincorp’s financial results for Q3FY24 represent a milestone in the company’s journey, showcasing exemplary growth and robust financial health. With its strong focus on consumer and MSME finance, the company continues to play a vital role in India’s economic development, backed by technological innovation and a commitment to customer satisfaction.