Poonawalla Fincorp Q4 Results: Profit Rises 84%
The bottom line of the non-banking finance company increased 84% year-on-year to Rs 332 crore in the quarter-ended March 31, 2024.
Poonawalla Fincorp Ltd.'s profit rose in the fourth quarter of fiscal 2024, showcasing robust growth across key metrics.
The bottom line of the non-banking finance company increased 84% year-on-year to Rs 332 crore in the quarter-ended March 31, 2024. The number is above the Bloomberg estimate of Rs 275.5 crore.
Poonawalla Fincorp Q4 FY24 Highlights (Standalone)
Total income rose 59% YoY to Rs 922 crore, with 19% QoQ growth.
Interest expense increased by 62% YoY to Rs 281 crore, up by 25% QoQ.
Operating expenses grew by 18% YoY to Rs 231 crore, and by 16% QoQ.
Operating profit soared by 93% YoY to Rs 409 crore, with 17% QoQ increase.
Profit after tax surged by 84% YoY to Rs 332 crore, up by 25% QoQ.
Return on assets improved to 5.73%, increasing by 42 bps QoQ.
Gross non-performing asset ratio decreased to 1.16% from 1.33% QoQ, down by 17 bps.
Net NPA ratio improved to 0.59% from 0.70% QoQ, down by 11 bps.
Net interest margin widened to 11.06%, up by 4 bps QoQ.
Assets under management grew to Rs 25,003 crore, rising by 55% YoY and 14% QoQ.
