Shares of Poonawalla Fincorp on Wednesday fell by Rs 8.65 or 2.73 per cent to shut at Rs 307.80 apiece on the BSE.
Poonawalla’s property underneath administration additionally bounce 37 per cent to Rs 16,143 crore as on March 31, 2023
Poonawalla Fincorp, a non-deposit-taking NBFC, on Wednesday mentioned it has recorded the highest-ever revenue after tax (PAT) of Rs 585 crore in FY23, which is round 100 per cent increased y-o-y as in comparison with the year-ago interval. In the fourth quarter additionally (Q4 FY23), the corporate’s revenue jumped about 103 per cent to its highest-ever PAT of Rs 181 crore.
The firm additionally really useful a dividend of Rs 2 per share (100 per cent of face worth) for FY23, topic to shareholders’ approval, in keeping with a regulatory submitting.
Poonawalla’s property underneath administration (AUM) additionally jumped 37 per cent to Rs 16,143 crore as on March 31, 2023.
On the property high quality entrance, gross non-performing property (GNPAs) fell 185 foundation factors (bps) year-on-year to 1.44 per cent on the finish of March 2023. Its web NPA additionally fell 52 foundation factors to 0.78 per cent. The firm’s capital adequacy ratio stood at 39 per cent as of March 31, 2023.
Its web curiosity margin (NIM) rose 87 per cent year-on-year to 11.3 per cent within the March 2023 quarter.
Abhay Bhutada, managing director of Poonawalla Fincorp, mentioned, “FY23 has been a 12 months of exemplary efficiency throughout enterprise development, credit score high quality and profitability. Our sturdy fundamentals and execution are mirrored in our credit standing improve to AAA by each CRISIL and CARE. We have led the way in which in constructing an actual Fintech mannequin at scale, with asset high quality which is best-in-class, together with superior profitability.”
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