Poonawalla Fincorp’s AUM jumps 52% in June 2024 quarter, disbursements up 5%

As of June 30, 2024, the non-banking finance company’s AUM stood at ₹26,970 crore.

The company’s total disbursements grew by 5% in the June 2024 quarter to ₹7,400 crore as compared to ₹7,063 crore in the same period last year.

Shares of Poonawalla Fincorp Ltd gained over a per cent on Friday to trade at an intraday high of ₹423.95 on NSE.

On the asset quality front, Poonawalla Fincorp’s gross non-performing asset (GNPA) and net non-performing asset (NNPA) are projected to improve even more and reduce to lower than 1% and 0.5%, respectively.

Poonawalla Fincorp stated that it continues to showcase enough liquidity, in the range of approximately ₹5,200 crore as on June 30, 2024.

The company’s Capital to Risk-weighted Assets Ratio (CRAR) for the period was 33.8%, far more than the regulatory requirement of 15%. Its Net Interest Margin (NIM) stood at 11.2% in the Q1FY25.

While Poonawalla Fincorp stock has dropped almost 4% so far this year, it has gained nearly 15% over the last year and is up by an impressive 170% in the past three years.

Poonawalla Fincorp's impressive performance in the first quarter further consolidates the company's financial standing in the last quarter of FY24.

The Cyrus Poonawalla-backed firm had posted a staggering 83.6% YoY jump in its net profit at ₹331.7 crore for Q4FY24, up from ₹180.7 crore in the corresponding quarter of the previous fiscal.

The firm's net interest income (NII) rose 57% YoY to ₹640.5 in the quarter, up from ₹408 crore in Q4FY24.

For the full FY2024, Poonawalla Fincorp's net profits swelled 83% YoY to ₹1,027 crore. with revenue rising 57% YoY to ₹3,152 crore,

At 2:50 PM on July 5, shares of Poonawalla Fincorp Ltd were trading flat at ₹419.30 on NSE.