Adar Poonawalla-controlled non-banking finance company Poonawalla Fincorp Ltd on Friday (October 20) reported a net profit of ₹1,258.9 crore for the second quarter that ended September 30, 2023.
The massive jump in net profit was due to an exceptional gain of ₹1,221.2 crore in the second quarter. In the corresponding quarter last year, Poonawalla Fincorp posted a net profit of ₹163.1 crore, the company said in a regulatory filing.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, jumped 18.7%, coming at ₹529.2 crore against ₹ 445.9 crore in the corresponding quarter of FY23.
The gross non-performing asset (GNPA) stood at 1.36% in the September quarter against 1.42% in the June quarter. The net non-performing asset (NNPA) came at 0.72% against 0.76% quarter-on-quarter.
In monetary terms, gross NPA stood at ₹266 crore against ₹245 crore quarter-on-quarter, whereas net NPA came at ₹140 crore against ₹131 crore quarter-on-quarter.
The company achieved the highest-ever quarterly disbursement of ₹7,807 crore, up 151% year-on-year and 11% quarter-on-quarter. Poonawalla Fincorp's Assets Under Management (AUM) stood at ₹20,215 crore, up 54% year-on-year and 14% quarter-on-quarter.
The results came after the close of the market hours. Shares of Poonawalla Fincorp Ltd ended at ₹376.15, down by ₹0.80, or 0.21 percent on the BSE.
First Published: Oct 20, 2023 8:41 PM IST
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