Bhutada reported lowest cost of funds in the industry
FY24 was the year of significant growth across all business parameters reflective of successful and seamless transformation, with remarkable improvement not only on AUM but also on profitability and credit quality across four quarters, says Abhay Bhutada, Managing Director, Poonawalla Fincorp https://poonawallafincorp.com/ .
Q4FY24 was the best quarter thus far with the highest ever quarterly disbursement across all products, all through organic route, with best-in-class asset quality, he said in a release on 4 Apr.
“We continue to have amongst the lowest cost of funds in the industry https://www.rbi.org.in/ . This sets us on course to achieve the stated Vision 2025.”
As of 31 Mar 2024, Poonawalla Fincorp reported:
1. Total disbursements during Q4FY24 were highest ever at approximately Rs.9,680 crore up 52% YoY and 11% QoQ compared to disbursements of Rs.6,371 crore in Q4FY23 and Rs.8,731 crore in Q3FY24.
2. Assets Under Management (AUM) grew by 54% YoY and 13% QoQ to approximately Rs.24,800 crore as on 31st March 2024.
3. Asset quality: GNPA and NNPA are expected to improve further and be less than 1.20% & less than 0.60% respectively. As guided, we would strive to maintain the NNPA below 1% in line with its Management Vision 2025.
4. Liquidity: The Company continues to have ample liquidity of approximately Rs.3,600 crore as on 31st March 2024. Fiinews.com
