{"id":102149,"date":"2023-04-27T13:11:00","date_gmt":"2023-04-27T07:41:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102149"},"modified":"2023-04-27T13:08:53","modified_gmt":"2023-04-27T07:38:53","slug":"midcap-stock-gains-6-after-reporting-103-increase-in-net-profit-board-recommends-dividend","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/midcap-stock-gains-6-after-reporting-103-increase-in-net-profit-board-recommends-dividend\/","title":{"rendered":"Midcap stock gains 6% after reporting 103% increase in net profit; Board recommends dividend\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3668132662\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of Poonawalla Fincorp jumped 6.43% higher on Thursday\u2019s early trades after the company reported robust results for the January to March quarter of 2023 (Q4FY23). Its shares reached an intraday high of \u20b9 327.70 apiece on the National Stock Exchange (NSE) and were trading at \u20b9 321.45 apiece at 12:16 PM.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2225472214\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/POONAWALLA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Poonawalla Fincorp<\/a><\/strong> is a non-deposit-taking systemically important NBFC, focusing on consumer and MSME finance. In May 2021, the company raised capital of \u20b9 3,456 crores and became a part of the Cyrus Poonawalla Group with a majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Adar Poonawalla.\u00a0<\/p><p><strong>Result&nbsp;<\/strong><\/p><p>The company reported its highest-ever profit after tax (PAT) at \u20b9 181 crores for Q4FY23, up 103% as compared to the corresponding quarter last year and up 20% sequentially. It reported its highest-ever quarterly disbursements at \u20b9 6371 crores, up 151% year on year (YoY) and up 89% quarter on quarter (QoQ). Its Assets Under Management (AUM) were at \u20b9 16,143 crores, up 37% YoY and 16% QoQ.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2539349376\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Poonawalla Fincorp reported Net NPA (non-performing assets) at 0.78%, reduced 52 bps YoY and 11 bps QoQ. It reported the highest-ever return on assets at 5%, up 178 bps YoY.&nbsp;<\/p><h4 class=\"wp-block-heading\" id=\"h-dividend\"><strong>Dividend&nbsp;<\/strong><\/h4><p>The NBFC\u2019s board has recommended a dividend of \u20b9 2 per share for FY23, subject to shareholder approval.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>Financials&nbsp;<\/strong><\/h4><p>Poonawalla Fincorp has a market capitalization of 23,645 crores and is a mid-cap company. It has a return on equity of 9.09% and a dividend yield of 0.13%. Its shares were trading at a price-to-earnings ratio of 39.68 which is higher than the industry P\/E of 19.61, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>Shareholding&nbsp;<\/strong><\/h4><p>The company\u2019s promoters hold a 62.14% stake in it followed by retail investors with 24.66%, foreign institutions with 7.13%, mutual funds with 4.52% and others with 1.55%.&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Disclaimer<\/strong><\/p>\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><\/blockquote><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-3315392418\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-1640451592\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of Poonawalla Fincorp jumped 6.43% higher on Thursday\u2019s early trades after the company reported robust results for the January to March quarter of 2023 (Q4FY23). Its shares reached an intraday high of \u20b9 327.70 apiece on the National Stock Exchange (NSE) and were trading at \u20b9 321.45 apiece at 12:16 PM.&nbsp; Poonawalla Fincorp is [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":28546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[8797,8842,8256,8255,8841,936],"class_list":["post-102149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-latest-stock-market-news","tag-poonawalla-dividend-2023","tag-poonawalla-fincorp-business-update","tag-poonawalla-fincorp-latest-news","tag-poonawalla-q4-results","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Midcap stock gains 6% after reporting 103% increase in net profit; Board recommends dividend\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=102149\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midcap stock gains 6% after reporting 103% increase in net profit; Board recommends dividend\u00a0\" \/>\n<meta property=\"og:description\" content=\"Shares of Poonawalla Fincorp jumped 6.43% higher on Thursday\u2019s early trades after the company reported robust results for the January to March quarter of 2023 (Q4FY23). 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