Paisalo Digital shares jump over 3% after reporting 32% growth in AUM at ₹4,622 crore

Paisalo Digital shares jumped over 3% on Wednesday after the company reported a 32% growth in its assets under management (AUM) at ₹4,622 crore as of March 31, 2024 as compared to ₹3,492 crore as on March 31, 2023.

The non-banking financial company stated in an exchange filing that disbursements grew by 38% to approximately ₹3,588 crore by the end of fiscal year 2024 as compared to ₹2,599 crore at the end of the previous fiscal. Co-lending loan disbursement grew by 100% to approximately ₹1,128 crore as compared to ₹564 crore by end-FY23.

The company stated that its customer franchise stood at 42.9 lakh as compared to 15 lakh in the previous fiscal. Geographic footprint rose by 133.36% to 2,455 touch points in FY24.

Paisalo Digital also pointed out that the company has allotted bonus equity shares in the ratio of 1:1 during fiscal year 2024.

During the third quarter of FY24, Paisalo saw its revenues jump 30% on a year-on-year basis to ₹463.50 crore. AUM rose over 40% to ₹4,228 crore while the company’s net worth increased over 4% to ₹1,295.2 crore.

Paisalo saw its net profits rise over 95%y-o-y to ₹142.4 crore. Gross non-performing assets (NPA) and net NPAs stood at 0.23% and 0.02% respectively as at the end of the quarter compared to 0.75% and 0.26% in the same period of previous fiscal, thereby registering an improvement in the asset quality.

The company had said it expects its GNPA and NNPA to stay within the long-term outlook of below 2%. Paisalo had written off bad debts totalling to ₹24.5 crore and has recovered old written-off bad debts worth ₹38.1 crore in Q3FY24. This has had a positive impact of ₹13.5 crore to the bottomline, it said.

Shares of the company have gained over 85% since the beginning of the year and have risen over 213% in the last one year.