Earnings in line despite NIM compression

Company
19 Jan 2024
5 Min read 
  • Poonawalla Fincorp's 3QFY24 NII grew 63% YoY to INR4.9b, while PPOP jumped 125% YoY to INR3.5b.
  •  PAT surged 76% YoY to ~INR2.65b in 3QFY24.
  •  Opex declined 2% YoY to ~INR2b, lower than estimate.
  •  PFL is focusing on enhancing productivity and expanding with new products.
  •  AUM rose 58% YoY to ~INR219b through market share gains.
  •  Asset quality remained strong with GNPA at ~4.9% and PCR at ~47.3%.
  •  Reiterate BUY rating with a TP of INR580.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority