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

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

Poonawalla Fincorp
Poonawalla Fincorp
Aathira Varier Mumbai
1 min read Last Updated : Oct 05 2023 | 11:13 PM IST
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.

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Topics :finance sectorassets under management

First Published: Oct 05 2023 | 11:13 PM IST

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