Non-banking finance company Poonawalla Fincorp on Wednesday said its disbursements during the March ’23 quarter had gone up 151% year-on-year to Rs 6,370 crore.
This was the highest-ever quarterly disbursement and also a record customer acquisition, the NBFC said in its business updates for the March quarter.
For FY23, total disbursements grew by 109% YoY to Rs 15,750 crore.
The company’s direct digital programme contributing 81% of the total disbursements in Q4FY23 compared with 24% in Q4FY22.
Assets under management (AUM) grew by 37% YoY to Rs 16,120 crore during the March quarter. The AUM grew by 37% despite a sharp reduction in the discontinued loan book.
On asset quality, the NBFC expected to improve gross NPA to less than 1.55% and going forward the company will look at maintaining net NPA to less than 1%. The company’s liquidity was at 3,000 crore as on March 31, 2023.
The Poonawalla Fincorp stock was up 0.12% to Rs 291.40 on the BSE after the company shared the quarterly business update.