Share price of this mid-cap NBFC stock moved up by 4.13 percent on BSE to hit an intraday high at Rs. 509 in the trading session of Tuesday, after reporting the highest-ever net profit by 83% YoY and 25% QoQ.
With a market capitalisation of Rs. 38,301.5 crore, at 01:45 p.m. the shares of Poonawalla Fincorp Limited were trading in the green at Rs. 494.9, up by 1.25 percent.
The fluctuations in the share prices were observed after the company announced its financial results on 29th April for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges.
The company’s revenue from operations stood at Rs. 915 crore in Q4 FY23-24, increasing by 20 percent QoQ from Rs. 762.61 crore in Q3 FY23-24 and 60.4 percent YoY from Rs. 1,938.58 crore in Q4 FY22-23 to Rs. 3,109.01 crore in Q4 FY23-24.
The net profit increased by 25 percent from Rs. 265.14 crore in Q3 FY23-24 to Rs. 331.7 crore in Q4 FY23-24, whereas, the same grew by nearly 190 percent from Rs. Rs. 569.81 crore in Q4 FY22-23 to Rs. 1,651.51 crore in Q4 FY23-24.
The year witnessed remarkable improvement not only in AUM but also in profitability and credit quality across four quarters, with the company achieving a significant milestone of AUM crossing Rs. 25,000 crore and after-tax profit crossing Rs. 1,000 crore.
With respect to the quarter ended 31st March 2024, the non-deposit taking systemically important NBFC achieved the highest-ever quarterly disbursement of Rs. 9,688 crore, up by 52 percent YoY and 11 percent QoQ, compared to disbursements of Rs. 6,371 crore in Q4FY23 and Rs. 8,731 crore in Q3FY24.
While the Assets Under Management (AUM) stood at Rs. 25,003 crore, up by 55 percent YoY and 14 percent QoQ, the gross NPA stood at 1.16 percent, reduced by 28 bps YoY and 17 bps QoQ, and the return on assets (RoA) stood at 5.73 percent, up 73 bps YoY and 42 bps QoQ.
Furthermore, in view of the future growth of the company, the Board of Directors has decided to conserve capital and therefore no final dividend was announced for FY23-24.
Poonawalla Fincorp Limited, previously known as Magma Fincorp Limited, is an RBI-registered non-deposit taking NBFC and is engaged in providing consumer and MSME financing, as well as General Insurance services.
The company’s offerings include pre-owned car finance, personal loans, loans to professionals, business loans, loans against property, supply chain finance, machinery loans, medical equipment loans and consumer loans.
Written by Shivani Singh
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