Sharp rise in Poonawalla Fincorp profit

Pune: City-based non-banking finance company

Poonawalla Fincorp

has announced a sharp rise in its profits for the quarter ending December 2021 as compared to the same period in the 2020-21 fiscal.For Q3 FY22,

Poonawalla

reported a net profit of Rs 96 crore, a more than seven-fold jump over the profit of Rs 13 crore recorded in the quarter ending December 2020. The company attributed the performance to the decline in credit costs and improvement in net interest margins.