Poonawalla Fincorp reports highest-ever quarterly profit of Rs 180 crore in Q4

In the March quarter, total revenue stood at Rs 576.7 crore during the period under review, up 50.3 percent against Rs 383.8 crore in the corresponding period of the preceding fiscal.

For the full year (FY23), the Pune-based company doubled its net income to Rs 585 crore, making it the highest-ever net income reported by the firm.

Gross NPA stood at 1.44 percent in the March quarter against 1.69 percent in the December quarter. Net NPA came at 0.78 percent against 0.89 percent quarter-on-quarter.

Net interest margin climbed 87 bps to 11.3 percent for the quarter under review, and for the full year, it stood at 10.7 percent, an improvement of 89 bps. The capital adequacy ratio stood at 39 and its liquidity buffer at Rs 3,001 crore.

The company's on-record loan disbursals also grew 37 percent to Rs 16,143 crore in the financial year 2022-23 and the disbursal for the quarter was the highest ever as it jumped 151 percent to Rs 6,371 crore.

The NBFC, focused on consumer and MSME finance, said its overall asset quality improved massively with gross non-performing assets (NPAs) coming down by 185 bps to 1.44 percent and the net NPAs falling 52 bps to 0.78 percent, thus boosting its bottom line.

Its digital disbursements increased to 81 percent in the quarter from 24 percent in Q4FY22. The bottom line was also boosted by lower operating expenses, which slipped 4 percent to Rs 196 crore.

The board has recommended a dividend of Rs 2 per share (100 percent of face value) for FY23, subject to shareholders’ approval, the company added.