On January 18, 2024, Poonawalla Fincorp Limited (BSE, NSE: POONAWALLA) announced its Q3 2023-24 results, registering its highest-ever quarterly PAT standing at ₹265 Crore, jumping a whopping 76% YoY, along with a jump in AUM of 58% YoY.
Table of Content
General Result Takeaways
Here are the overall highlights of Q3 results:
- In Q3, the Company recorded its highest-ever quarterly disbursement at ₹8,731 Cr, a rise of 159% YoY and 12% QoQ.
- The Company’s Assets Under Management (AUM) were at ₹21,946 Cr, a rise of 58% YoY and 9% QoQ.
- Regarding asset quality, the Company recorded a Gross NPA of 1.33%, a reduction of 36 bps YoY and 3 bps QoQ.
- Regarding Assets, the Net NPA was at 0.70%, a reduction of 19 bps YoY and 2 bps QoQ.
- Regarding the Company’s Profitability for Q3, the PAT (Profit After Tax) was the highest ever at ₹265 Cr, up 76% YoY and 15% QoQ.
- In Q3, the ROA or Return on Assets stood at 5.3%, up by 84 bps YoY and 34 bps QoQ.
- The Net Interest Margin (NIM) for Q3 was at 11.02%, marking an improvement of 33 bps YoY.
- For Q3, the Opex to AUM ratio was at 4.00%, showing an improvement of 206 bps YoY and 18 bps QoQ.
- The Company’s Operating Profit (PPOP) in Q3 was at ₹350 Cr, a rise of 125% YoY and 4% QoQ.
- The Board of the Company declared an interim dividend of ₹2 per equity share (100% of face value).
- For Q3, the Capital Adequacy Ratio was 38.2%.
- In Q3, the Liquidity Buffer was ₹2,973 Cr.
Additional Read: Q3 Results Dashboard
Q3 Result Details from the Management Commentary
The MD of Poonawalla Fincorp Limited had some key details of the results to share and these are mentioned below:
- The Company has recorded its highest-ever disbursement in any quarter so far.
- Q3 results are marked with robust growth in AUM while asset quality remains superior.
- The Company has recently introduced a mobile app that has garnered huge traction boosting the Company’s distribution system.
- The Company has had success in the completion of its technology transformation and can now start to offer clients positive personalised and innovative experiences.
Other Aspects of Q3 Results
Poonawalla Fincorp Limited reported Q3 results and other information about the result report is mentioned below:
- There has been a consistent rise in disbursement that has risen 159% YoY and 12% QoQ.
- The Company has a presence across all digital avenues including WhatsApp, Web App, Social Media, DSA, Branch, and Contact Centre.
- In Q3, the average CoB remained steady at 7.99%.
- The Provision Coverage Ratio stood at 47.33%, showing strong asset quality.
- The Company has an AAA rating by CARE and CRISIL.
- The Company has earned awards and accolades including certification of “A Great Place to Work”.
Financial Results at a Glance
Here is a glimpse of the financial results (Profit & Loss) of Q3 (figures in ₹ Cr except where indicated by %):
| Metrics | Q3 FY 2023-24 | Q2 FY 2023-24 | QoQ % Growth | Q3 FY 2022-23 | YoY % Growth |
| Total Income | 774 | 745 | 4% | 519 | 49% |
| Operating Profit | 350 | 336 | 4% | 156 | 125% |
| Profit After Tax (PAT) | 265 | 230 | 15% | 150 | 76% |
Additional Check: Poonawalla Fincorp Share Price
Q3 FY24 Result Summary
Poonawalla Fincorp Limited is a company under the helm of the Cyrus Poonawalla Group of companies. It is classified as an NBFC, or non-banking finance company, and is in the business of lending in the segments of car loans, housing finance, professional financing, business loans, supply chain finance, and other financial offerings.
Registered with the Reserve Bank of India, and listed on the NSE and BSE, Poonawalla Fincorp Limited boasts an AUM (standalone) of ₹21,946 crore at the end of Q3 FY24. The Company has a presence in over 19 states and an approximate employee base of 2,300 people. The Company’s growth trajectory has been consistent over the past financial year, with exemplary profit margins aided by robust AUM growth.
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Source – BSE Poonawalla Fincorp Limited
