NATIONAL, 5th JULY, 2023 (GPN): Poonawalla Fincorp, led by its Managing Director Abhay Bhutada, continues to be on a growth trajectory. With their Q1FY24 total disbursements being the highest ever at approximately Rs 7050 Cr, things are looking up for the Pune-based NBFC. Some of the key highlights are as follows:

1. Disbursements:

Total disbursements during Q1FY24 were the highest ever at approximately Rs 7,050 crores, up 143% YoY and 11% QoQ compared to disbursements of Rs 2,901 crore in Q1FY23 and Rs 6,371 crore in Q4FY23.

Direct Digital Program (DDP) continued a healthy trajectory, contributing 86% of the total disbursements in Q1FY24 compared to 81% in Q4FY23, 66% in Q3FY23, 54% in Q2FY23 and 32% in Q1FY23.

2. Assets Under Management (AUM):

AUM grew by 41% YoY and 10% QoQ to approximately Rs 17,770 crores as on 30 June 2023.

3. Asset quality: 

GNPA and NNPA are expected to improve further. Poonawalla Fincorp strives to maintain the NNPA below 1% in line with its Management Vision 2025.

4. Liquidity: 

The Company continues to have ample liquidity of approximately Rs 4000 crore as on 30 June 2023.

With its digital-first, customer-centric approach, Poonawalla Fincorp looks to further cement its position in the lending space.

Following a strong business update, PFL stock touched a lifetime and 52-week high at INR 374.40.Ends