Poonawalla Fincorp share price gains 3% on strong Q3 business update
BSE filing, Poonawalla Fincorp said its total disbursements during Q3FY24 were highest ever at approximately ₹8,730 crore. The total disbursements jumped by a robust 159% from ₹3,369 crore in the same quarter last fiscal year. It was up 12% compared to disbursements of ₹7,807 crore in Q2FY24.
Also Read: Sobha share price surges 12% to hit a fresh all-time high; should you buy the stock? The company’s Assets Under Management (AUM) grew by 57% YoY and 8% QoQ to approximately ₹21,850 crore as on December 31, 2023. On the asset quality front, Gross non-performing assets (GNPA) and net NPA (NNPA) are expected to improve further. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) “As guided, we would strive to maintain the NNPA below 1% in line with the Management Vision 2025," Poonawalla Fincorp said.
Further, the company said it continues to have ample liquidity of approximately ₹2,875 crore as on December 31, 2023. Also Read: Torrent Power share price soars over 13% on MoU with Gujarat govt worth ₹47,350 crore In the quarter ended September 2023, Poonawalla Fincorp reported a consolidated net profit of ₹854.61 crore, registering a growth of 555% YoY, on the back of a large one-time gain. The company’s revenue from operations was at ₹738.65, while its net interest income (NII) jumped to ₹475.1 crore from ₹274.12 crore in the same quarter last year.
Poonawalla Fincorp shares have risen over 16% in the past three months, while the stock is up more than 47% in one year. At 10:15 am, Poonawalla Fincorp shares were trading 1.85% higher at ₹438.75 apiece on the BSE. Catch Live Market Updates hereMilestone Alert!
Livemint tops
