Board of directors of poonawalla fincorp limited - Latest News Update, Information, Photos & Videos on Board of directors of poonawalla fincorp limited at Lokmat Times

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 Rs 15,275 croreNIM increased by 104 bps YoY to 9.1% in Q2FY22 (8.0% in Q2FY21), driven largely by reduction in interest expensesConsolidated PBT was up 151% YoY, increasing from Rs 50 crore in Q2FY21 to Rs 126 crore in Q2FY22, driven largely by reduction in interest expenses and credit costsCollections showed an improving trend from 93.1% in Jun'21 to 98.0% in Jul'21 and further to 99.9% in Sep'21Asset QualityConsequent 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 BorrowingsThe Company continues to maintain a strong liquidity position with around Rs 1,700 crore of surplus liquidity, with additional term loan sanctions in hand of Rs 1750 crore. Significant amount of existing loans were repriced in Q2FY22, with reduction of over 120 bps. New sanctions received at sub-6.5%.The company's long-term rating was upgraded by two notches to 'AA+; Stable' by Care Ratings following its review process. The short-term rating was retained at the highest level of 'A1+'.Revised Product FocusPursuant to the capital infusion and rebranding, the Company launched new products like Personal loans, Loans to Professionals, and SME LAP. Other products at an advanced stage of rollout are: medical equipment loan, small ticket LAP, and co-lending/fintech partnerships.This story is provided by BusinessWire India.will not be responsible in any way for the content of this article. (ANI/BusinessWire India)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Board Of Directors Of Poonawalla Fincorp Limited, NewsFOLLOW

Board of directors of poonawalla fincorp limited, Latest News

Business :Poonawalla Fincorp Q2FY23 PAT jumps 71 per cent YoY to Rs 163 Crores

The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC focusing on consumer and MSME finance, today announced its unaudited financial results for the quarter ended Sep 30, 2022. ...

Business :Poonawalla Fincorp Q3FY22 Consolidated Profit Before Tax up 651 percent YoY to Rs. 130 Cr; Significant Reduction in Credit Costs and Improvement in Asset Quality

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 December 31, 2021 (Q3FY22). ...

Business :Poonawalla Fincorp Q2FY22 consolidated profit before tax up 151 percent YoY to Rs 126 crore

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). ...