Poonawalla Fincorp shares rise 4 pc on strong Q3 earnings

NewsDrum Desk
24 Jan 2023

New Delhi, Jan 24 (PTI) Shares of Poonawalla Fincorp Ltd settled 4 per cent higher on Tuesday after the firm reported a rise in its net profit for the third quarter.

The stock of the financial services company rose 4.18 per cent to settle at Rs 302.50 apiece on the BSE.

On the NSE, it gained 3.66 per cent to end at Rs 301.45 per share.

In volume terms, 4.54 lakh shares were traded on the BSE and 1.16 crore shares on the NSE during the day.

The 30-share BSE Sensex advanced 37.08 points or 0.06 per cent to 60,978.75 on Tuesday.

In a regulatory filing on Monday, Poonawalla Fincorp reported an 88 per jump in net profit to Rs 150 crore for the third quarter ended December 2022.

The Non-Banking Financial Company (NBFC) focusing on consumer and MSME finance had reported a net profit of Rs 80 crore in the year-ago period.

The total income in the quarter rose to Rs 519 crore against Rs 394 crore a year ago, it said.

The net Interest Margin of the company rose to 10.7 per cent, an improvement of 94 basis points. PTI HG BAL BAL

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