Poonawalla Fincorp stock jumps after its Q3 update shows 159% YoY rise in loan disbursements

Poonawalla Fincorp Share Price: Poonawalla Fincorp shares rose in morning deals on BSE on Thursday (January 4, 2023) after the company gave its Q3 update, showing a 159 per cent rise Year-on-Year (YoY) in its loan disbursements.

The stock of Poonawalla Fincorp was trading higher by 1.60 per cent, or Rs 6.90, at Rs 437.70, at 11:05 am on Thursday. 

Poonawalla Fincorp Q3 Update

In the Q3 update on Thursday, Poonawalla Fincorp said that its total disbursements during Q3FY24 were the highest-ever at approximately Rs 8,730 crore, up 159 per cent YoY, and 12 per cent quarter-on-quarter (QoQ) compared to disbursements of Rs 3,369 crore in Q3FY23 and Rs 7,807 crore in Q2FY24.

It said that its Assets Under Management (AUM) grew by 57 per cent YoY and 8 per cent QoQ to approximately Rs 21,850 crore as on December 31, 2023.

The company's liquidity as on December 31, 2023, stood approximately at Rs 2,875 crore.

It expects its GNPA and NNPA to improve further. 

"As guided, we would strive to maintain the NNPA below 1 per cent in line with the Management Vision 2025," the company said in a statement.