New Delhi, May 12 (PTI) Poonawalla Fincorp on Thursday reported a consolidated net profit of Rs 118.9 crore for the quarter ended March.

The non banking finance company had reported a net loss of Rs 647.70 crore in the same quarter a year ago.

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Total revenue from operations was down by 11 per cent at Rs 512.20 crore in Q4 FY22, as against Rs 572.80 crore in the same period of FY21, the company said in a release.

The company's board has recommended a dividend payment of 20 per cent, subject to shareholders' approval, it said.

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Assets under management (AUM) for FY22 increased to Rs 16,579 crore, recording a growth of 17 per cent over FY21, while disbursements stood at Rs 9,494 crore, growing by 158 per cent over FY21.

The company said its housing subsidiary Poonawalla Housing Finance Limited (PHFL) crossed the Rs 5,000-crore AUM mark in March 2022.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)