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Tanushree Jaiswal
18/05/2024
Corporate Actions
Poonawalla Fincorp Q4 FY2024 Results: Net Profit up by 84%
Tanushree Jaiswal
30th April 2024 - 12:02 pm
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Key Highlights
- Poonawalla Fincorp reported revenue of Q4 FY2024 was ₹915 cr. from ₹576.73 cr in Q4 FY2023.
- Net profit was marked at ₹221 cr for FY2024 up by 84% on a YOY basis.
- Interest income for Q4 FY2024 stood at ₹843.57 cr.
Business Highlights
- Poonawalla Fincorp reported a net profit for Q4 FY2024 at ₹332 cr from ₹198.55 cr in Q4 FY2023.
- Its revenue from operations FY2024 was Rs 3147.33 cr against ₹1938.58 cr in FY2023.
- Its assets under management increased by 55% on a YOY basis reaching ₹25,003 cr in the Q4 FY2024.
- The net NPA was at 0.59% for the quarter ending in March 2024.
- The company’s interest margin increased by 4 bps to 11.06% while the capital adequacy ratio was at 33.8%.
Commenting on the results, Abhay Bhutada, managing director, Poonawalla Fincorp, “I feel elated and proud of the last 3 years’ journey, to spearhead the biggest transformation of Poonawalla Fincorp that the NBFC space has ever witnessed. Our rigor and execution excellence has ensured that we have continuously outperformed and given consistent superior performance resulting in achieving significant milestone of AUM crossing ₹25,000 crore and PAT crossing Rs 1,000 crore. Our differentiated strategy and relentless execution are reflected across all business metrics and have made us a thought leader in the lending space.”
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