April 23, 2024

Abhay Bhutada, MD, Poonawalla Fincorp (Photo: bhaybhutada.com)

Poonawalla Fincorp’s assets under management (AUM) soared by 54 per cent in the fourth quarter of financial year 2024 to reach Rs 24,800 crore, a year-on-year jump supported by robust disbursements.


On a sequential basis, the AUM expanded nearly 13 per cent from Rs 21,850 crore in the third quarter ended December 2023.


Total disbursements during the reported quarter rose 52 per cent Y-o-Y to approximately Rs 9,680 crore from Rs 6,371 crore in Q4FY23.

Sequentially, disbursements were up by 11 per cent over Rs 8,731 crore in Q3FY24.


Abhay Bhutada, MD, Poonawalla Fincorp, said, “Q4FY24 was the best quarter thus far with highest ever quarterly disbursement across all products, all through organic route, with best-in-class asset quality.”


As for asset quality, the NBFC said its standing on Gross Non-Performing Assets and Net Non-Performing Assets (Net NPAs) is expected to improve further with GNPA below 1 per cent and NNPA below 0.60 per cent.


“We would strive to maintain the NNPA below 1 per cent in line with the Management Vision 2025,” the company said. It continues to have ample liquidity of approximately Rs 3600 crore as of March 31, 2024.

Bhutada said, “FY24 was the year of significant growth across all business parameters reflective of successful and seamless transformation. The year witnessed remarkable improvement not only on AUM but also on profitability and credit quality across four quarters.”

 

First Published: Apr 04 2024 | 4:13 PM IST