Poonawalla Fincorp Q1
Poonawalla Fincorp Q1 Business Update
When compared to the same time the previous year,
Poonawalla Fincorp’s total disbursements increased by 143% to Rs 7,050 crore,
which was the biggest amount ever recorded.
The NBFC reported its largest total disbursements ever during Q1FY24, at Rs 7,050 crore,
an increase of 143% over Rs 2,901 crore during the same time previous year.
Sequentially, disbursements increased by 11% from Q4FY23’s Rs 6,371 crore.
According to Poonawalla Fincorp, the Direct Digital Programme (DDP) maintained an upward trend, providing 86% of the total disbursements in Q1FY24 compared to 81% in Q4FY23, 66% in Q3FY23, 54% in Q2FY23, and 32% in Q1FY23.
AUM
As of June 30, 2023, the company’s Assets Under Management (AUM) increased by 41% YoY to 17,770 crore. A 10% sequential gain was seen in AUM.
Gross non-performing assets (GNPA) and net non-performing assets (NNPA), according to Poonawalla Fincorp, are likely to continue to decline.
Company NNPA
In accordance with the business’s Management Vision 2025, we will endeavour to keep the NNPA below 1%, the company added.
As of June 30, 2023, the firm still had a healthy amount of liquidity, the statement noted.
The stock reached a new 52-week high
On Wednesday, Poonawalla Fincorp’s stock increased more than 4% as the company released a positive business update for the first quarter that ends in June 2023.
During the day, the stock reached a new 52-week high on the BSE of Rs 376 per share.
Check Share Price On BSE
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