This story is from May 14, 2022

Poonawalla Fincorp returns to profit

City-based NBFC Poonawalla Fincorp, formerly Magma Fincorp, reported a return to profitability for Q4 of FY22, as well as for the full fiscal.
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.
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