Poonawalla Fincorp posted its highest-ever quarterly profit of ₹332 crore in Q4 FY24, up 84 per cent on year and 25 per cent on quarter. For FY24, the profit after tax was ₹1,027 crore, higher by 83 per cent on year.
The NBFC saw record disbursements of ₹9,688 crore during the quarter, up 52 per cent on year and 11 per cent on quarter. AUM stood at ₹25,003 crore as of March 2024, seeing a growth of 55 per cent y-o-y and 14 per cent q-o-q.
MSME loans, both secured and unsecured, accounted for 37 per cent of total loans, personal and consumer loans for 23 per cent, LAP for 16 per cent, and pre-owned car loans for 15 per cent as at the end of FY24.
As a whole, secured loans comprised 49 per cent of loans as of March 2024, and unsecured AUM for the remaining 51 per cent, as per the investor presentation. Net Interest Margin (NIM) was at 11.06 per cent, up 4 bps sequentially.
During FY24, the NBFC achieved the milestone of AUM crossing ₹25,000 crore and PAT crossing ₹1,000 crore, MD and CEO Abhay Bhutada said, adding that the differentiated strategy is reflected across all business metrics.
Gross NPA ratio improved 28 bps on year and 17 bps on quarter to 1.16 per cent at the end of FY24. Net NPA ratio at 0.59 per cent was also 19 bps better on year and 11 bps on quarter. Capital Adequacy Ratio stood at 33.8 per cent as of March 31, and the liquidity buffer was at ₹3,932 crore.
Over the long-term, the NBFC expects to maintain AUM growth of 35-40 per cent, profit growth of 30-35 per cent. Further, it aims to maintain gross NPA ratio at 1.3-1.8 per cent, net NPA ratio at 0.5-0.9 per cent, and return on assets (RoA) at 4.0-4.5 per cent.