Poonawalla Fincorp gained 1.53 per cent to Rs 276.10 after the Non-Banking Financial Corporation’s combined net profit jumped 118.3 per cent to Rs 140.92 crore on an 18.7 per cent rise in total income to Rs 578.70 crore in Q1 FY22 above than last year.

On a consolidated basis, profit before tax (PBT) surged 125.4 per cent year on year to Rs 182.61 crore in the quarter ended 30 June 2022. Net interest margin (NIM) improved to 9.5 per cent in Q1 FY23.

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Assets Under Management (AUM) for Q1 FY23 increased to Rs 17,660 crore, recording a growth of 22.4 per cent YoY and 6.5 per cent QoQ. Disbursements stood at Rs 3,436 crore, growing by 98.3 per cent YoY and 3 per cent QoQ.

Gross Stage 3 and Net Stage 3 assets decreased to 2.19 per cent and 0.95 per cent as of 30 June 2022 from 5.38 per cent and 2.71 per cent, respectively, as of 30 June 2021. The company had a healthy Stage 3 provision coverage ratio at 57 per cent.

To maintain the strong liquidity with a surplus of Rs 4,654 crore. All eligibility term loans and new borrowing at an average cost of borrowing of 6.9 per cent in the first quarter from 7.4 per cent in the fourth quarter of last year.