Pune: Poonawala Fincorp Limited, a non-deposit-taking systemically important NBFC, recently announced its unaudited financial results for quarter ending June 30, 2024.

Poonawala Fincorp Limited’s Assets Under Management (AUM) are up by 52% YoY at Rs 26,972 crore. Asset Quality witnessed Gross NPA at 0.67%, lower than 75bps YoY and 49bps QoQ, while Net NPA stood at 0.32% — lower 44bps YoY and 27bps QoQ, and Provision Coverage Ratio stood at 52.53%.

Operating Profit (PPoP) was Rs 432 crore, up  47% YoY and 6% QoQ, Profit after Tax (PAT) was Rs 292 crore (up 46% YoY), Return on Assets (RoA) at 4.62%) and Net Interest Income was Rs 676 crore (up 42% YoY and 5% QoQ).

Capital Adequacy Ratio was 31.57% with Tier I at 30.09% — well above the regulatory requirement of 15%.

Arvind Kapil, Managing Director and CEO, Poonawala Fincor Limited, said that the company, with focus on productivity, predictability and sustainability, envisaged achieving it through higher investments mainly in collections, technology and launch of new businesses.

The Company continued to register consistent growth in AUM and profitability, superior asset quality and customer engagement during this period, he said, adding that “This will help us build a retail franchise step-by-step process-by-process with solid risk management and mix of right products.”