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Poonawalla Fincorp snaps 3-day losing streak on strong Q3 show; Motilal Oswal sees 21% upside

The company said it recorded its highest ever net profit at Rs 150 crore, up 88 percent year-on-year and 16 percent sequentially

January 24, 2023 / 10:39 AM IST
Total income in the quarter rose to Rs 519 crore as against Rs 394 crore a year ago, Poonawalla Fincorp said in a regulatory filing. (Representative Image)

Total income in the quarter rose to Rs 519 crore as against Rs 394 crore a year ago, Poonawalla Fincorp said in a regulatory filing. (Representative Image)

 
 
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Share price of Poonawalla Fincorp gained over 5 percent on January 24 after the non-banking financial company (NBFC) reported 88 percent on-year jump in its net profit for the October-December quarter.

In an exchange filing, the company said it recorded its highest ever net profit at Rs 150 crore - up 88 percent on-year and 16 percent on-quarter. Quarterly disbursements at Rs 3,369 crore were also highest ever, up by 157 percent YoY and 8 percent QoQ.

At 10am, the stock was quoting at Rs 305 apiece, higher by 5.21 percent. Trading volumes at 4.5 million shares are almost double the 20-day average volume of 2.5 million. In the past six months, it has gained over 16 percent.

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