Poonawalla Fincorp Q1 Results: Net Profit Jumps 45% To Rs 292 Crore

Poonawalla Fincorp Ltd. reported a 45.6% rise in its net profit for the first quarter of this financial year.

The non-banking financial company reported a net profit of Rs 292 crore for the quarter ended June, compared to Rs 200 crore in the same quarter of the previous fiscal year, according to its stock exchange notification.

Revenue increased by 40% year-on-year for the three months ended June, reaching Rs 996 crore.

Assets under management for the company grew by 52% to Rs 26,970 crore for the April-June quarter, the investor presentation said. The net interest income rose 42% year-on-year to Rs 676 crore.

The gross non-performing asset was recorded at 0.67%, down 75 bps during the same period last year, while the net NPA fell 44 bps to 0.32% during the quarter.

Shares of Poonawalla Fincorp closed 0.82% lower at Rs 411.45 apiece, as compared to a 0.91% decline in the country's benchmark BSE Sensex 30.