Poonawalla Fincorp surges 20% post March quarter results

In Q4, AUM grew 16.5 per cent year-on-year and 8.9 per cent quarter-on-quarter at Rs 16,579 crore.

Shares of Poonawall Fincorp (formerly known as Magma Fincorp) surged 20 per cent to Rs 259.80 on the BSE in Friday’s trade after the company reported consolidated profit after tax (PAT) of Rs 119 crore, on the back of strong operational performance in March quarter (Q4FY22). A Cyrus Poonawalla group promoted non-banking finance company posted loss of Rs 648 crore in Q4FY21.

The company’s asset under management (AUM) grew 16.5 per cent year-on-year (YoY) and 8.9 per cent quarter-on-quarter (QoQ) at Rs 16,579 crore. Housing subsidiary Poonawalla Housing Finance Limited (PHFL) crossed the Rs 5,000 crore AUM mark in