Poonawalla Fincorp fourth quarter results: Profit rose 67% year-on-year to Rs 332 crore.

Poonawalla Fincorp on Monday reported a 67% rise in consolidated net profit to Rs 332 crore in the March quarter. The company recorded a net profit of Rs 199 crore in the corresponding quarter of the last fiscal.

Poonawalla Fincorp’s total income during the quarter also rose to Rs 922 crore compared to Rs 581 crore in the year-ago quarter, it said in a regulatory filing.

Non-deposit-taking non-banking financial companies (NBFCs) also saw their interest income rise to Rs 84.4 billion from Rs 552 million in the same period last year.

Poonawalla Fincorp said in a statement that its assets under management (AUM) rose 25 per cent to Rs 25,003 crore at the end of March 2024.

Pune-based Poonawalla Fincorp (formerly Magma Fincorp), owned by the Cyrus Poonawalla Group, which focuses on consumer and small business finance, reported a net interest margin of 11.06% and a capital adequacy ratio of 33.8% at year-end. March 2024.