Corporate News | Poonawalla Fincorp Q4FY24 Business Update: Strong AUM Growth of 13 Per Cent QoQ and Significant Improvement in Asset Quality
Get latest articles and stories on Corporate at LatestLY. Pune (Maharashtra) [India], April 4: Poonawalla Fincorp Limited provided the following information with respect to the quarter ended 31st March 2024:
BusinessWire India
Pune (Maharashtra) [India], April 4: Poonawalla Fincorp Limited provided the following information with respect to the quarter ended 31st March 2024:
1) Disbursements: Total disbursements during Q4FY24 were highest ever at approximately Rs. 9,680 crore up 52% YoY and 11% QoQ compared to disbursements of Rs. 6,371 crore in Q4FY23 and Rs. 8,731 crore in Q3FY24.
2)Assets Under Management (AUM): AUM grew by 54% YoY and 13% QoQ to approximately Rs. 24,800 crore as on 31st March 2024.
3) Asset quality: GNPA and NNPA are expected to improve further and be less than 1.20% & less than 0.60% respectively. As guided, we would strive to maintain the NNPA below 1% in line with its Management Vision 2025.
4) Liquidity: The Company continues to have ample liquidity of approximately Rs. 3600 crore as on 31st March 2024.
Management Commentary
Commenting on the quarterly Business update, Abhay Bhutada, Managing Director, Poonawalla Fincorp, said, "FY24 was the year of significant growth across all business parameters reflective of successful and seamless transformation. The year witnessed remarkable improvement not only on AUM but also on profitability and credit quality across four quarters. Q4FY24 was the best quarter thus far with the highest ever quarterly disbursement across all products, all through organic route, with best-in-class asset quality. We continue to have amongst the lowest cost of funds in the industry. This sets us on course to achieve the stated Vision 2025."
The above information is provisional and subject to audit by the statutory auditors of the Company.
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