Poonawalla Fincorp Ltd’s net profit rose by 70.8 per cent Year on Year (YoY) to Rs 163 crore in the second quarter ended September 2022 (Q2FY23) on improvement in disbursement and margins.
It’s net interest income (NII) for reporting quarter grew by 33 per cent at Rs 446 per cent. Sequentially, NII was up by 12 per cent over Q1FY23. The net interest margin (NIM) rose to 9.8 per cent in Q2FY23, 77 basis points over a year ago level. Sequentially, it was up 35 basis points, PFL said in a statement today.
It’s stock closed 4.58 per cent lower at Rs 315.75 per share on BSE.
It’s assets under management (AUM) expanded by 22 per cent YoY to Rs 18,560 crore. Sequrntially they grew by five per cent over AUM at end of June 2022.
Its disbursement in the reporting quaryer grew 44 per cent YoY to Rs 3,721 crore and 8.0 per cent QoQ.
Abhay Bhutada, managing director, PFL said the quarter was marked by highest ever organic disbursement, customer acquisition, lowest GNPA & NNPA in 38 quarters. This sets the momentum for an even exciting second half and beyond.
The asset quality profile improved with gross non-performing assets (NPAs) declining by 259 basis points YoY to 1.52 per cent at end of September 2022. It’s net NPAs down 118 basis points YoY to 0.83 per cent as of September 2022. It’s capital adequacy ratio stood at 44.9 per cent as of September 2022.