Company Shares Up 6% After Quarterly Earnings Announcement – Poonawalla Fincorp Q3 Results Details
January 2023: Shares of Poonawalla Fincorp rose in Tuesday’s trade following the non-banking finance company’s (NBFC) Q3 announcement on Monday.
Poonawalla Fincorp, in a stock exchange filing yesterday, said the company’s consolidated net profit for the quarter ended December 31, 2022 increased by 89.12% to Rs. 182.44 crores.
The company’s consolidated profit before tax (PBT) grew by 86.77% YoY in Q3 of FY23 to Rs. 243.66 crores.
Shares of Poonawalla Fincorp rose 5.91% to Rs 307.50 at 12.08 pm. While the company’s share this morning was Rs. 308.50 while it closed at 290.35 on Monday.
Poonawalla Fincorp’s Q3 Results
NBFC’s net profit, on a standalone basis, grew by 87.51% to Rs. 150.42 crore in Q3 FY23 compared to Q3 FY23 at Rs. 519.31 crore while net interest margin (NIM) improved by 94 bps QoQ to 10.7%.
Assets under management (AUM) increased to Rs. 13,929 crore, registering a growth of 28% YoY and 6% QoQ. The company reported its highest ever quarterly distribution of Rs. 3,369 crore, up 157% YoY and 8% QoQ.
Pre-Provision Operating Profit (PPOP) Rs. 156 crore, which was 23% higher than QoQ during the period under review.
On the asset quality front, gross stage 3 and net stage 3 assets declined to 1.69% which is around 236 bps YoY and 8 bps QoQ and 0.89% which is 108 bps YoY and 5 bps QoQ in the December quarter which is 4.05% and 1.97% respectively. . On 31 December 2021. The company’s Phase 3 provision coverage ratio was 47.77%.
Liquidity buffer as on December 31, 2022 respectively Rs. 3,168 crore and capital adequacy ratio was 44%.
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