Poonawalla Fincorp Q2FY23 PAT jumps 71 per cent YoY to Rs 163 Crores

Key Highlights - Q2FY23 (Consolidated):

- Assets under management (AUM) at Rs. 18,560 Crores, up by 22 per cent YoY and 5 per cent QoQ.

- Disbursements grew to Rs. 3,721 Crores, up by 44 per cent YoY and 8 per cent QoQ.

- Highest ever PAT at Rs. 163 Cr up 70.8 per cent YoY and 15.8 per cent QoQ.

- Highest ever RoA at 3.6 per cent up by 102 bps YoY and 24 bps QoQ.

- NII at Rs. 446 Crores up by 33 per cent YoY and 12 per cent QoQ.

- NIM at 9.8 per cent an improvement of 77 bps YoY and 35 bps QoQ.

- Gross NPA at 1.52 per cent down by 259 bps YoY and 67 bps QoQ while Net NPA at 0.83 per cent down by 118 bps YoY and 13 bps QoQ despite alignment with revised NPA definition as per RBI circular. These are the best asset quality numbers in last 38 quarters.

- The DDP (Direct Digital Program) mix increased to 47 per cent in Q2 from 34 per cent in Q1 and 17.5 per cent in Q4FY22.

- CARE upgraded the long-term rating to 'AAA/Stable'.

- Liquidity buffer stood at Rs. 4,812 Crores as of 30th Sep 2022.

- Standalone Capital Adequacy Ratio stood at 44.9 per cent as of 30th Sep'22.

- Given the strong ALM management, and diversification of liabilities, the impact of recent interest rate hikes on cost of borrowing will be gradual.

Commenting on Poonawalla Fincorp's performance, CA Abhay Bhutada, Managing Director, said "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. It was a quarter marked by highest ever organic disbursement, customer acquisition, lowest GNPA & NNPA in 38 quarters, and highest ever PAT & RoA. This sets the momentum for an even exciting second half and beyond.

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