NE BUSINESS BUREAU
PUNE, OCT 21
Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC focusing on consumer and MSME finance, on Friday announced its net profit rose by 70.8 percent Year on Year (YoY) to Rs 163 crore in the second quarter ended September 2022 (Q2FY23) on improvement in disbursement and margins.
It’s net interest income (NII) for reporting quarter grew by 33 percent at Rs 446. Sequentially, NII was up by 12 percent over Q1FY23. The net interest margin (NIM) rose to 9.8 percent in Q2FY23, 77 basis points over a year ago level. Sequentially, it was up 35 basis points, PFL said in a statement.
- AUM up by 22% YoY to Rs 18,560 Crores; Net NPA down by 118 bps YoY to 0.83%
- Net interest income for reporting quarter grew by 33 percent at Rs 446
It’s assets under management (AUM) expanded by 22 percent YoY to Rs 18,560 crore. Sequrntially they grew by five percent over AUM at end of June 2022.
Its disbursement in the reporting quaryer grew 44 per cent YoY to Rs 3,721 crore and 8.0 percent QoQ.
Commenting on this, CA Abhay Bhutada, Managing Director, PFL said, “Q2 has been an excellent quarter with differentiated strategy and execution excellence leading to all round performance across business growth, improved credit quality and profitability. It was a quarter marked by highest ever organic disbursement, customer acquisition, lowest GNPA & NNPA in 38 quarters, and highest ever PAT & RoA. This sets the momentum for an even exciting second half and beyond.”
The asset quality profile improved with gross non-performing assets (NPAs) declining by 259 basis points YoY to 1.52 percent at end of September 2022. It’s net NPAs down 118 basis points YoY to 0.83 percent as of September 2022. It’s capital adequacy ratio stood at 44.9 percent as of September 2022.
