On consolidated basis, Poonawalla Fincorp registered 116% jump in total disbursements to approximately Rs 3,980 crore in Q3 FY23 over Q3 FY22.
The NBFC's disbursements soared 116% YoY and rose 7% QoQ, with 100% disbursements through organic route compared to 97% organic disbursements in Q2 FY23.
Consolidated Assets under management (AUM) stood at Rs 19,550 crore as of 30 December 2022, recording a growth of 28% YoY and 5% QoQ. The NBFC witnessed rise in AUM despite sharp reduction in the discontinued loan book. Discontinued on-book stood at approximately Rs 800 crore as on 31 December 2022.
On asset quality front, the gross non-performing assets (GNPA) and net non-performing assets (NNPA) are expected to be below 1.5% and 0.8% respectively as on 31 December 2022, in line with the RBI circular dated 12 November 2021. The company would strive to maintain the NNPA below 1% in line with its Management Vision 2025.
The company said continues to have ample liquidity of approximately Rs 4,850 crore as on 31 December 2022.
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On a standalone basis, Poonawalla Fincorp's total disbursement rose 8% to approximately Rs 3,370 crore in Q3 FY23 from Rs 3,110 crore posted in Q2 FY23. AUM grew by 28% YoY and 6% QoQ to approximately Rs 13,940 crores as on 31 December 2022.
Poonawalla Fincorp stated in the press release, During Q3 FY23 (standalone), we continued our strong growth momentum by achieving highest ever quarterly disbursement through 100% organic route, acquiring the highest ever customer base with best-in-class asset quality and continuing to be amongst the lowest cost of funds. The share of Direct, Digital and Partnerships (DDP) continued a healthy trajectory, rising to 56% in Q3 FY23 compared to 47% in Q2 FY23, 34% in Q1 FY23 and 17% in Q4FY22. This sets us on course to achieve the stated Vision 2025 on a standalone basis with focus on growth, asset quality and profitability.
On 14 December 2022, the company announced the sale of its housing subsidiary Poonawalla Housing Finance to TPG (Perseus SG Pte., an entity affiliated with TPG Global, LLC) at a valuation of Rs 3,900 crore, subject to regulatory approvals. The transaction aims at maximizing the shareholders' value in the long term as Poonawalla Fincorp (standalone) will continue to focus on building a Tech-Led and Digital-First financial services company, with leadership in consumer & MSME financing.
Poonawalla Fincorp is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI).
The company's consolidated net profit soared 70.8% to Rs 163.12 crore on 27.1% jump in total income to Rs 654.89 crore in Q2 FY23 over Q2 FY22.
Shares of Poonawalla Fincorp declined 1.12% to Rs 295.10 on the BSE.
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