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

Oct 5, 2023

By: BlinkX Research Team

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.