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Poonawalla Fincorp’s consolidated profit after tax for Q2 FY23 increased 71 per cent year-on-year and 16 per cent quarter-on-quarter to ₹163 crore — the highest-ever quarterly PAT for the company.
“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,” said MD Abhay Bhutada.
Assets under management of the company rose by 22 per cent year-on-year and 5 per cent on quarter to ₹18,560 crore, led by a 44 per cent year-on-year and 8 per cent quarter-on-quarter increase in disbursements to ₹3,721 crore during Q2.
Net interest income (NII) for the reporting quarter was at ₹446 crore, up 33 per cent y-o-y and 12 per cent q-o-q. NIM (net interest margin) was at 9.8 per cent, as improvement of 77 bps y-o-y and 35 bps q-o-q.
Gross NPA ratio of the non-bank lender stood at 1.5 per cent as at the end of September, down by 259 bps y-o-y and 67 bps q-o-q. The net NPA ratio at 0.8 per cent, was also 118 bps better YoY and 13 bps QoQ.
“It was a quarter marked by highest ever organic disbursement, customer acquisition, lowest gross NPA and net NPA in 38 quarters, and highest ever PAT and RoA. This sets the momentum for an even exciting second half and beyond,” Bhutada was quoted as saying in a release.
Capital adequacy ratio of the company was at 45 per cent as of September 30.
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