Poonawalla Fincorp's Q4 net profit skyrocketed by 67% to Rs 332 crore, driven by strong growth in interest income and AUM. Read more.
New Delhi, Apr 29 (PTI) Poonawalla Fincorp on Monday reported a 67 per cent jump in consolidated net profit to Rs 332 crore in the March quarter.
The company had posted a net profit of Rs 199 crore during the corresponding quarter of the previous financial year.
Its total income during quarter also rose to Rs 922 crore, against Rs 581 crore in the year-ago period, Poonawalla Fincorp said in a regulatory filing.
The non-deposit-taking non-banking financial company (NBFC) also registered growth in interest income to Rs 844 crore from Rs 552 crore in the year-ago quarter.
Assets under management (AUM) grew 25 per cent Rs 25,003 crore at the end of March 2024, Poonawalla Fincorp said in a statement.
Pune-based Poonawalla Fincorp (formerly Magma Fincorp), which is owned by Cyrus Poonawalla group, which focuses on consumer and small business financing, reported a net interest margin of 11.06 per cent while capital adequacy ratio stood at 33.8 per cent for the year ended March 2024.
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