Poonawalla Fincorp, earlier Magma Fincorp, on Friday reported a consolidated revenue after tax (PAT) of Rs 118.9 crore for the quarter ended March 2022. The NBFC had posted a lack of Rs 647.7 crore in Q4FY21.

Revenues declined by 10.6% year-on-year to Rs 512.2 crore, whereas the agency’s property underneath administration (AUM) for FY22 rose 16.5% y-o-y to Rs 16,579 crore.
Abhay Bhutada, managing director, Poonawalla Fincorp, mentioned FY22 was a yr of consolidation and the corporate is now poised for development.

The corporate’s consolidated PAT for FY22 stood at Rs 375 crore, whereas PBT was at Rs 492 crore towards a lack of Rs 749 crore in FY21. NIM elevated by 65 bps y-o-y to eight.9%. The FY22 disbursements stood at Rs 9,494 crore, leaping 158% over FY21.

The Poonawalla Fincorp board has authorized a capital increase of as much as Rs 1,000 crore for the housing subsidiary, Poonawalla Housing Finance (PHF), with a stake dilution of lower than 15% in a number of tranches by means of a preferential problem throughout FY23. PHF crossed the Rs 5,000-crore AUM mark in March 2022.

Bhutada mentioned the fundraising is for community enlargement and to help AUM development. The PHF AUM is projected to develop to over Rs 10,000 crore by FY25. “There may even be worth unlocking within the housing finance subsidiary with an preliminary public providing in future,” Bhutada mentioned.

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