Poonawalla Fincorp’s PAT Grows 62% To Rs 200 Cr YoY In Q1

Poonawalla Fincorp's profit after tax (PAT) for the first quarter of the current fiscal year (Q1FY24) recorded at Rs 200 crore, up 62 per cent year on year (YoY) and 11 per cent quarter on quarter (QoQ). This is the company's best quarterly performance to date.

The company also achieved its highest-ever quarterly payments, hitting Rs 7,063 crore, representing a 143 per cent YoY rise and an 11 per cent QoQ increase.

Assets Under Management (AUM) increased by 41 per cent year on year and 10 per cent quarter on quarter to Rs 17,776 crore.

Gross non-performing assets (NPA) fell to 1.42 per cent, a 126 basis point (bps) fall year on year and a 2 bps decrease quarter on quarter.

Net NPA also improved, falling to 0.76 per cent, a 35 basis point decline year on year and a two basis point decrease quarter on quarter.

Return on assets (ROA) for Q1FY24 was 4.8 per cent, up 67 basis points year on year.