Poonawalla Fincorp posts record Q2 disbursements at Rs 7,750 crore

Poonawalla Fincorp posted its highest ever quarterly disbursements at nearly Rs 7,750 crore during the second quarter of financial year 2023-24. This was 149 per cent higher than Rs 3,110 crore recorded in Q2FY23, as per the exchange filing on Thursday.

Meanwhile, it posted a 10 per cent sequential growth from Rs 7,063 crore in the first quarter of FY24.

The Assets Under Management (AUM) of Poonawalla Fincorp rose by 53 per cent year-on-year (Y-o-Y) to Rs 20,110 crore.

The liquidity of the company stood at Rs 3,800 crore as of September 30, 2023. Meanwhile, the Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) are likely to see further improvement. “As guided, we would strive to maintain the NNPA below 1% in line with its Management Vision 2025,” stated the exchange filing.

Recently, Poonawalla Fincorp received the Reserve Bank of India's (RBI) approval to issue a co-branded credit card with IndusInd Bank.

At 9:50 am, Poonawalla Fincorp traded 0.66 per cent up at Rs 379.35 on the National Stock Exchange, Thursday.