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Poonawalla Fincorp's Trailblazing Performance In FY24

 The dynamic realm of finance is replete with success stories that stand out, captivating attention and admiration. Poonawalla Fincorp Limited, under the astute leadership of Mr. Abhay Bhutada, has scripted one such remarkable tale of triumph. As the curtains drew on FY24, Poonawalla Fincorp proudly unveiled its audited financial results, showcasing a stellar performance that set new benchmarks in the non-banking financial sector.

Abhay Bhutada MD


Unprecedented Achievements

Amidst a landscape of economic fluctuations, Poonawalla Fincorp achieved unparalleled milestones in FY24. The company's quarterly disbursement soared to a staggering ₹9,688 crore, marking a remarkable 52% year-on-year increase and an impressive 11% quarter-on-quarter growth. This exceptional growth trajectory extended to its Assets Under Management (AUM), which surged to ₹25,003 crore, reflecting a robust 55% year-on-year escalation and a notable 14% quarter-on-quarter rise.

Also read: Unveiling Abhay Bhutada: A Leader’s Inspiring Odyssey In Finance

Exemplary Asset Quality

In addition to its impressive scale of operations, Poonawalla Fincorp also distinguished itself with its exemplary asset quality. The company reported a Gross Non-Performing Assets (NPA) ratio of 1.16%, witnessing a significant reduction of 28 basis points year-on-year and 17 basis points quarter-on-quarter. Furthermore, its Net NPA ratio stood at 0.59%, demonstrating a commendable decline of 19 basis points year-on-year and 11 basis points quarter-on-quarter.

Record-Breaking Profitability

The financial prowess of Poonawalla Fincorp shone brightly through its record-breaking profitability metrics in FY24. The company reported its highest-ever yearly Profit After Tax (PAT) of ₹1,027 crore, marking an impressive 83% year-on-year surge. Additionally, the quarterly PAT reached unprecedented heights at ₹332 crore, registering a substantial 25% quarter-on-quarter increase. This phenomenal performance translated into an impressive Return on Assets (RoA) of 5.73%, witnessing a notable uptick of 73 basis points year-on-year and 42 basis points quarter-on-quarter.

Also read: Abhay Bhutada Shares Insights on Poonawalla Fincorp’s Long-Term Objectives

Strategic Excellence and Operational Efficiency

Abhay Bhutada Poonawalla


Behind every remarkable achievement lies a strategic vision coupled with operational excellence. Abhay Bhutada, MD of Poonawalla Fincorp, attributes the company's success to its relentless pursuit of excellence and its differentiated strategy in the lending space. Under his stewardship, Poonawalla Fincorp has not only outperformed its competitors but has also emerged as a thought leader in the financial landscape.

The Journey Ahead

As Poonawalla Fincorp charts its course for the future, its commitment to passion, principles, purpose, people, and possibilities remains unwavering. With a widespread presence across 19 states and a dedicated team of over 2300 professionals, the company is poised for further growth and expansion. As it continues to innovate and adapt to the evolving needs of its customers, Poonawalla Fincorp is set to script many more success stories in the years to come.

Embracing Innovation

In the ever-evolving landscape of finance, innovation serves as the cornerstone of sustained growth and success. Poonawalla Fincorp has embraced innovation wholeheartedly, leveraging technology to streamline its processes and enhance customer experience. From digital lending platforms to data analytics-driven insights, the company has embraced cutting-edge solutions to stay ahead of the curve.

Also read: Who is Abhay Bhutada?

Building Trust Through Transparency

Trust is the bedrock of any successful financial institution. Poonawalla Fincorp understands the importance of transparency in building and nurturing trust with its stakeholders. By adhering to the highest standards of corporate governance and financial reporting, the company has earned the trust and confidence of investors, regulators, and customers alike.

Empowering Communities

Beyond its financial performance, Poonawalla Fincorp is committed to making a positive impact on the communities it serves. Through various CSR initiatives and community development programs, the company is empowering individuals and communities to realize their full potential. Whether it's promoting financial literacy or supporting education and healthcare initiatives, Poonawalla Fincorp is dedicated to creating a brighter and more inclusive future for all.

Conclusion

In conclusion, Poonawalla Fincorp's exceptional performance in FY24 stands as a testament to its resilience, adaptability, and unwavering commitment to excellence. With Mr. Abhay Bhutada at the helm, the company has not only weathered the storms of uncertainty but has also emerged stronger and more resilient than ever before. As it embarks on the next phase of its journey, Poonawalla Fincorp is poised to redefine the benchmarks of success in the non-banking financial sector. Through innovation, transparency, and community empowerment, the company is laying the foundation for a future filled with endless possibilities.

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