Poonawalla Fincorp consolidated net profit at Rs 96 crore in Q3

The consolidated net profit of Poonawalla Fincorp Ltd (PFL) rose sharply to Rs 96 crore for the third quarter ending December 2021 (Q3Fy22) from Rs 13 crore in Q3Fy21 on improving interest margins and dip in credit costs.

PFL, formerly Magma Fincorp, had posted a net profit of Rs 96 crore in the second quarter ending September 2021 (Q2Fy22), according to investor presentation.

The finance company’s share closes flat at Rs 281.8 per share on BSE.

Net Interest Margins (NIM) stood at 8.8 percent in Q3 Fy22, up from 8.5 percent in December 2020. However, sequentially NIM fell by 9.1 percent in Q2Fy22.

Its credit costs dropped sharply to just two crore Rs of Rs 182 crore in Q3Fy21 and Rs 35 crore in Q2Fy22.

Gross non-performing assets (GNPAs) fell to 3.5 percent in December 2021 from 6.9 percent a year ago and 4.1 percent in September 2021. Net NPAs were also down 1.8 percent from 4.5 percent in December 2020 and 2020. on September 2021 changed to + 0.21%.

The financial undertaking’s assets under management (AUMs) were flat at Rs 15,228 crore at the end of December 2021 against Rs 15,006 crore in December 2020 and subsequent Rs 15,275 crore in September 2021.

The capitalization ratio stood at 54.2 percent at the end of December 2021.

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