Poonawalla Fincorp reports strong Q2FY24 performance with record disbursements and growing AUM

Poonawalla Fincorp Limited has announced its standalone performance highlights for the quarter ended September 30, 2023. 

Key Highlights for Q2FY24:

Poonawalla Fincorp achieved its highest-ever disbursements during Q2 FY24, totaling approximately ₹7,750 crore. This remarkable figure reflects a substantial 149% year-on-year (YoY) increase and a notable 10% quarter-on-quarter (QoQ) growth. For comparison, disbursements stood at ₹3,110 crore in Q2 FY23 and ₹7,063 crore in Q1 FY24.

The company's Assets Under Management (AUM) demonstrated robust growth, expanding by 53% YoY and 13% QoQ. As of September 30, 2023, Poonawalla Fincorp's AUM reached approximately ₹20,110 crore.

Poonawalla Fincorp remains committed to maintaining the quality of its assets. Both Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) are expected to show further improvements. The company has set a clear target to keep NNPA below 1% in alignment with its Management Vision 2025.

The company boasts a robust liquidity position, with approximately ₹3,800 crore in liquidity reserves as of September 30, 2023. This financial strength positions Poonawalla Fincorp well to navigate various market conditions and support its growth initiatives.