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Business EconomyPosted at: Apr 4 2024 8:03PM


Poonawala Fincorp achieves highest ever disbursement of Rs 9,680 cr in Q4

New Delhi, Apr 4 (UNI) Poonawala Fincorp on Thursday said it achieved total disbursements during the Q4 of 2023-24 of about Rs 9,680 crore, the highest ever with a 52 percent growth year-on-year basis.
In a regulatory filing with the stock exchange, the company said the quarterly disbursement was 11 per cent higher compared to same quarter in the previous financial year.
Assets Under Management (AUM) grew by 54 per cent Year-on-Year and 13 per cent Quarter-on-quarter to approximately Rs 24,800 crore as on 31st March 2024.
Commenting on the quarterly Business update, Abhay Bhutada, Managing Director said “FY24 was the year of significant growth across all business parameters reflective of successful and seamless transformation. The year witnessed remarkable improvement not only on AUM but also on profitability and credit quality across four quarters.”
Q4 (January-March, 2024) was the best quarter thus far with highest ever quarterly disbursement across all products, all through organic route, with best-in-class asset quality. “We continue to have amongst the lowest cost of funds in the industry. This sets us on course to achieve the stated Vision 2025,” he added.
With regard to liquidity position, the company said it continues to have ample liquidity of approximately Rs 3600 crore as on 31st March 2024.
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