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Business News/ Markets / Stock Markets/  Poonawalla Fincorp share price gains 3% on strong Q3 business update
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Poonawalla Fincorp share price gains 3% on strong Q3 business update

Poonawalla Fincorp said its total disbursements during Q3FY24 were highest ever at approximately ₹8,730 crore. The total disbursements jumped by a robust 159% from ₹3,369 crore in the same quarter last fiscal year.

Poonawalla Fincorp shares have risen over 16% in the past three months, while the stock is up more than 47% in one year.Premium
Poonawalla Fincorp shares have risen over 16% in the past three months, while the stock is up more than 47% in one year.

Poonawalla Fincorp share price gained nearly 3% in early trade on Thursday after the company reported a strong business update for the third quarter of FY24.

In a BSE filing, Poonawalla Fincorp said its total disbursements during Q3FY24 were highest ever at approximately 8,730 crore. The total disbursements jumped by a robust 159% from 3,369 crore in the same quarter last fiscal year. 

It was up 12% compared to disbursements of 7,807 crore in Q2FY24.

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The company’s Assets Under Management (AUM) grew by 57% YoY and 8% QoQ to approximately 21,850 crore as on December 31, 2023. 

On the asset quality front, Gross non-performing assets (GNPA) and net NPA (NNPA) are expected to improve further. 

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“As guided, we would strive to maintain the NNPA below 1% in line with the Management Vision 2025," Poonawalla Fincorp said.

Further, the company said it continues to have ample liquidity of approximately 2,875 crore as on December 31, 2023. 

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In the quarter ended September 2023, Poonawalla Fincorp reported a consolidated net profit of 854.61 crore, registering a growth of 555% YoY, on the back of a large one-time gain. 

The company’s revenue from operations was at 738.65, while its net interest income (NII) jumped to 475.1 crore from 274.12 crore in the same quarter last year.

Poonawalla Fincorp shares have risen over 16% in the past three months, while the stock is up more than 47% in one year.

At 10:15 am, Poonawalla Fincorp shares were trading 1.85% higher at 438.75 apiece on the BSE.

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Published: 04 Jan 2024, 10:16 AM IST
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