Poonawalla Fincorp returns to profit

Pune: City-based

NBFC Poonawalla Fincorp

, formerly

Magma Fincorp

, reported a return to profitability for Q4 of FY22, as well as for the full fiscal. The company’s board also announced plans to raise around Rs 1,000 crore for the firm’s subsidiary

Poonawalla Housing Finance

, through preferential issue.Poonawalla Fincorp’s total assets under management grew by around 16% annually to around Rs 16,579 crore at March 2022-end. tnn
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