Poonawalla Fincorp Q3 profit up 88 pc to Rs 150 cr

NewsDrum Desk
23 Jan 2023

New Delhi, Jan 23 (PTI) Poonawalla Fincorp Limited on Monday reported an 88 per jump in net profit to Rs 150 crore for the third quarter ended December 2022.

The non-deposit-taking non-banking finance company (NBFC) focusing on consumer and MSME finance had reported a net profit of Rs 80 crore in the year-ago period.

Total income in the quarter rose to Rs 519 crore as against Rs 394 crore a year ago, Poonawalla Fincorp said in a regulatory filing.

Net Interest Margin of the company rose to 10.7 per cent, an improvement of 94 basis points.

On asset quality, the gross non-performing assets (NPAs) fell to 1.69 per cent, down by 236 basis points (bps) year-on-year. The net NPAs stood at 0.89 per cent, 108 bps lower.

Capital Adequacy Ratio stood at 44 per cent as of December 31, 2022, it added. PTI DP DP ABM ABM

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