Poonawalla Fincorp gains as Q4 PAT soars 84% YoY; AUM at Rs 25,003 cr

Poonawalla Fincorp added 1.06% to Rs 494 after the NBFC's net profit surged 83.57% to Rs 331.70 crore on 58.6% jump in total income to Rs 921.73 crore in Q4 FY24 over Q4 FY23.

Net interest margin (NIM) was at 11.06% in the quarter ended 31 March 2024, up 4 bps QoQ. Operating profit soared 93% year on year to Rs 409 crore in Q4 FY24 from Rs 212 crore reported in the same period a year ago.

Opex to AUM ratio further improved to 3.99% in Q4FY24, reduced by 144 bps YoY from 5.43% in Q4FY23.

During the quarter, the NBFC achieved the highest ever quarterly disbursement of Rs 9,688 crore, up 52% YoY. Assets under management (AUM) climbed 55% YoY to Rs 25,003 crore in the quarter ended 31 March 2024.

 

Return on assets (RoA) improved to 5.73% during Q4 FY24 as compared to 5% registered in Q4FY23.

For FY24, profit after tax (excluding exceptional items) jumped 83.07% to Rs 1,027 crore from Rs 561 crore reported in FY23. Total income climbed 56.8% YoY to Rs 3,151.82 crore in FY24

On the asset quality front, gross NPA ratio reduced to 3.99% as on 31 March 2024 as against 1.44% as on 31 March 2023, Net NPA ratio was at 0.59% as on 31 March 2024 as compared with 0.78% as on 31 March 2023.

As on 31 March 2024, provision coverage ratio (PCR ) and capital adequacy ratio stood at 49.39% and 33.8% respectively. The company had a liquidity buffer of Rs 3,932 crore as of 31 March 2024.

Poonawalla Fincorp is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The companys financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans.

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