Poonawalla Fincorp reports 83% jump in Q4 profit after tax to Rs 1,027 crore | Companies News

NBFC giant Poonawalla Fincorp reported fourth quarter net profit of Rs 332 crore, up 25 per cent on-year basis. The company’s full-year net profit of Rs 1,027 crore, up 83 per cent on-year basis. The non-bank lender’s stock closed 0.21 per cent higher on Tuesday.

Poonawalla Fincorp led by MD Abhay Bhutada (right) reported strong quarterly earnings in Q4FY24. (Photo credit: Poonawalla Fincorp)

New Delhi: Poonawalla Fincorp reported full-year FY24 profit after tax (PAT) of Rs 1,027 crore, up 83 per cent year-on-year, while the PAT for Q4FY24 stood at Rs 332 crore, up 25 per cent on a sequential basis. The non-banking financial comoany reported assets under management worth Rs 25,000 crore.

“Our rigor and execution excellence has ensured that we have continuously outperformed and given consistent superior performance resulting in achieving a significant milestone of AUM crossing Rs 25,000 crore and PAT crossing ₹1,000 crore,” said Abhay Bhutada, Managing Director at Poonawalla Fincorp.

Total disbursements in Q4FY24 stood at Rs 9,688 crore, up 52 per cent year-on-year, recording to company’s highest-ever quarterly disbursement. Gross NPAs stood at 1.16 per cent of the balance sheet, down 28 basis points (bps), on-year basis and 17 bps q-o-q.

Net NPAs stood at 0.59 per cent, down 19 bps pn-year basis. Poonawalla Fincorp reported return on assets of 5.73 per cent, compared to 5 per cent in the year-ago period.

The company’s net interest margin was up 4 bps to 11.06 per cent on a sequential basis. The ratio of operational expenditure to AUm stood at 3.99 per cent, down 144 basis points on-year basis in Q4FY24.

Poonawalla Fincrop reported an operating profit of Rs 409 crore in Q4FY24, up 93 per cent year-on-year. Capital adequacy ratio and liquidity buffer stood at 33.8 per cent and Rs 3,932 crore, respectively.

Poonawalla Fincorp Share Price history

• Poonawalla Fincorp’s stock closed 0.21 per cent higher at Rs 489.85 apiece on Tuesday.
• Poonawalla Fincorp’s share price was down 1.61 per cent over the past 5 days, but up 3.17 per cent over the past month.
• The stock rose 38.83 per cent over the past 6 months and 51.89 per cent over the past year.

All you need to know about Poonawalla Fincorp

Poonawalla Fincorp is listed on the BSE and NSE indices and has been in operation for the past three decades. With a presence in 19 states across India, Poonawalla Fincorp has an employee strength of 2,300 people. The company’s financial offerings include:

• Pre-owned car loans
• Personal loans
• Loans to professionals
• Business loans
• Loan againts property
• Supply chain finance
• Machinery loans
• Medical equipment loans
• Consumer loans