Poonawalla Fincorp on Thursday reported a 116% year-on-year growth in disbursements to Rs 3,980 crore during the December quarter. This was the highest-ever quarterly disbursement, the company said.
According to the business update for the December quarter, assets under management grew 28% YoY and 5% QoQ to Rs 19,550 crore. This was despite a sharp reduction in the discontinued loan book, which stood at Rs 800 crore.
Consolidated gross NPA and net NPA were expected to be below 1.5% and 0.8%, respectively, as on December 31, 2022. The company said it would work towards maintaining the net NPA below 1%. Poonawalla Fincorp‘s liquidity stood at Rs 4,850 crore.
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On a standalone basis, total disbursement during Q3 was up 8% QoQ and stood at Rs 3,370 crore, compared with Rs 3,110 crore in the year-ago period. The standalone AUM grew 28% YoY and 6% QoQ to ₹13,940 crore.
Poonawalla Fincorp on December 14 announced sale of its housing subsidiary Poonawalla Housing Finance to Perseus SG Pte, an entity affiliated with TPG Global LLC, for Rs 3,900 crore. Poonawalla Fincorp said it will focus on building a tech-led and digital-first financial service with thrust on consumer and MSME financing. The share of direct, digital and partnerships rose to 56% in Q3FY23, compared to 47% in the same quarter last year.