Summary:
Pune, Maharashtra, India – Business Wire India The Board of Directors of Poonawalla Fincorp Limited (PFL), a non-deposit taking systemically important NBFC focusing on consumer and small business finance, today announced its un-audited results for the quarter ended September 30, 2021 (Q2FY22).
The consolidated results include the performance of PFL’s wholly-owned housing finance subsidiary, Poonawalla Housing Finance Limited (PHFL), and its joint venture, Magma HDI General Insurance Company Limited (MHDI).
Performance Highlights (Consolidated) • Assets Under Management grew by ~6% QoQ to ? 15,275 crore • NIM increased by 104 bps YoY to 9.1% in Q2FY22 (8.0% in Q2FY21), driven largely by reduction in interest expenses • Consolidated PBT was up 151% YoY, increasing from ? 50 crore in Q2FY21 to ? 126 crore in Q2FY22, driven largely by reduction in interest expenses and credit costs • Collections showed an improving trend from 93.1% in Jun’21 to 98.0% in Jul’21 and further to 99.9% in Sep’21 Asset Quality Consequent to improvement in collections in Q2FY22, Gross Stage 3 and Net Stage 3 assets decreased from 5.4% and 2.7% respectively as at Jun’21 to 4.1% and 2.0% respectively as at Sep’21 on a consolidated basis.
The Company has one of the best provision coverage ratios across all three stages.
Standard Asset Coverage Ratio as at Sep’21 stands at 3.4% (3.0% in Sep’20); Stage 3 Asset Coverage Ratio stands at 52% (38% in Sep’20).
Liquidity and Cost of Borrowings The Company continues to maintain a strong liquidity position with around ? 1,700 crore of surplus liquidity, with additional term loan sanctions in hand of ? 1750 crore.