Poonawalla Fincorp’s AUM grows 41% YoY in Q1FY24 to at Rs 17,770 crore

Poonawalla Fincorp Ltd posted 41 per cent year-on-year growth in Assets Under Management (AUM) at Rs 17,770 crore as of June 30, 2023 (Q1Fy24). Sequentially, AUM grew by 10 per cent over the March 2023 quarter.

The Adar Poonawalla controlled non-banking finance company’s disbursements in the first quarter were up by as much as 143 per cent YoY to reach Rs 7,050 crore,  from Rs 2,901 crore in the same quarter a year ago. Sequentially, the disbursements rose 11 per cent over Rs 6,371 crore in quarter ended March 2023, according to a filing with the BSE.

Its stock was trading 3.5 per cent up at Rs 371.25 a share on the BSE.

The direct Digital Programme (DDP) continued a healthy trajectory, contributing 86 per cent of the total disbursements in Q1FY24 compared to 81 per cent in Q4FY23, 66 per cent in Q3FY23, 54 per cent in Q2FY23 and 32 per cent in Q1FY23.

While the NBFC did not give data on asset quality at the end of June 2023, it said the gross Non-Performing Assets (NPAs) and Net NPAs are expected to improve further. “We would strive to maintain the NNPA below 1 per cent in line with its Management Vision 2025”, Poonawalla Fincorp said.

The Liquidity continued to be ample, at about Rs 4,000 crore as on June 30, 2023.