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Business News/ Brand Stories / Poonawalla Fincorp Reports Highest Ever Yearly PAT of Rs. 1027 Crore in FY24, Jumps 83% YoY
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Poonawalla Fincorp Reports Highest Ever Yearly PAT of Rs. 1027 Crore in FY24, Jumps 83% YoY

The Company continued to register robust financial performance, demonstrating strong growth in AUM, Profitability, and superior asset quality

Abhay Bhutada- MD Poonawalla FincorpPremium
Abhay Bhutada- MD Poonawalla Fincorp

Pune, Maharashtra, India – Business Wire India

  • Highest ever quarterly PAT of Rs. 332 crore in Q4FY24, jumps 25% QoQ
  • AUM crosses Rs. 25,000 crore, NNPA down to 0.59%

The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC focusing on consumer and MSME finance, today announced its audited financial results for the quarter and year ended March 31, 2024.
 
The Company continued to register robust financial performance, demonstrating strong growth in AUM, Profitability, and superior asset quality. 

Key Highlights – Q4FY24:

Assets: 

  • Highest Ever Quarterly Disbursement: Achieved the highest ever quarterly disbursement of Rs. 9,688 crore, up 52% YoY and 11% QoQ
  • Assets Under Management (AUM): Stood at Rs. 25,003 crore, up 55% YoY and 14% QoQ

 Asset Quality:

  • Gross NPA at 1.16%, reduced by 28 bps YoY and 17 bps QoQ
  • Net NPA at 0.59%, reduced by 19 bps YoY and 11 bps QoQ

 Profitability:

  • ​Profit After Tax (PAT): Highest ever yearly PAT of Rs. 1027 crore in FY24, jumps 83% YoY and Highest ever quarterly PAT of Rs. 332 crore, up 25% QoQ
  • Return on Assets (RoA) stood at 5.73%, up 73 bps YoY and 42 bps QoQ
  • Net Interest Margin (NIM) was at 11.06%, up 4 bps QoQ
  • Opex to AUM ratio: At 3.99% in Q4FY24, reduced by 144 bps YoY and 1 bps QoQ
  • Operating Profit (PPOP) was at Rs. 409 crore for Q4FY24, up 93% YoY and 17% QoQ

 Capital Adequacy and Liquidity:

  • Capital Adequacy Ratio stood at 33.8%
  • Liquidity buffer stood at Rs. 3,932 crore

Commenting on the results, Mr. Abhay Bhutada, Managing Director, Poonawalla Fincorp, said, “I feel elated and proud of the last 3 years’ journey, to spearhead the biggest transformation of Poonawalla Fincorp that the NBFC space has ever witnessed. Our rigor and execution excellence has ensured that we have continuously outperformed and given consistent superior performance resulting in achieving significant milestone of AUM crossing Rs. 25,000 crore and PAT crossing Rs. 1,000 crore. Our differentiated strategy and relentless execution are reflected across all business metrics and have made us a thought leader in the lending space."

About Poonawalla Fincorp Limited
Poonawalla Fincorp Limited (“the Company") 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 Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).
 
The Company’s identity “P" stands for Passion, Principles, Purpose, People and Possibilities. The Company has widespread coverage across 19 states. The Company has standalone AUM of Rs. 25,003 crore as on March 31, 2024, and employs around 2300 people. The Company’s 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.

For more information, please log on to: www.poonawallafincorp.com

Media Contact Details

Poonawalla Fincorp Limited, corporatecommunications@poonawallafincorp.com

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. 

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Published: 30 Apr 2024, 07:06 PM IST
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