Poonawalla Fincorp reports improved asset quality and earnings up 141% year-on-year


Pune: Consumer and MSME lender Poonawalla Fincorp reported that the quality of its assets improved both year-on-year and sequentially in the first quarter of FY23, while also reporting an increase in assets under management, disbursements as well as earnings for the quarter, compared to the same quarter last year. tax.
At the end of June 30, 2022, the company’s AUM (assets under management) stood at Rs 17,660 crore, up around 22% year-on-year, while its profits increased significantly up 141% year-on-year, from Rs 65 crores, to Rs 141 crores. The company’s net interest margin was 9.5%, up 155 basis points.
As for its asset quality, the company reported that its Phase 3 gross counts declined sequentially from 2.66% in Q4FY22 to 2.19% in the June quarter. The same in Q1FY22 was 5.38%. Poonawalla Fincorp’s Stage 3 net assets also declined sequentially and annually, from 1.11% and 2.71% to 0.95% respectively in the first quarter of FY23.
“We have had an excellent start to the year. Our excellence in execution made this quarter (Q1FY23) better than last quarter (Q4FY22). Strong disbursements, supported by excellent organic disbursement growth, is a validation of our business model,” said Abhay Bhutada, Managing Director of Poonawalla Fincorp.


FacebookTwitterinstagramKOO APPYOUTUBE


Comments are closed.