The board of directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC focusing on consumer and MSME finance, has revealed its unaudited financial results for the quarter ending June 30, 2023. In Q1FY24, the company reported its highest-ever quarterly Profit After Tax (PAT) of Rs 200 crore, marking a YoY increase of 62% […]
Poonawalla Fincorp Limited (previously Magma Fincorp Limited) said that its CEO Vijay Deshwal has resigned with immediate effect to join the Cyrus Poonawalla Group where he will be overseeing emerging investment opportunities. According to Poonawalla Fincorp, the company will be led by Abhay Bhutada, the present managing director, who will continue to handle the operational […]
Poonawalla Fincorp Limited (formerly Magma Fincorp) said that Sanjay Chamria has stepped down as the company’s executive vice chairman having serving as its co-founder since its founding. In the recent times, the Indian non-banking finance company had secured investment from Rising Sun Holdings, which was followed by Adar Poonawalla joining its board as the chairman. […]
Poonawalla Fincorp Limited (previously Magma Fincorp Limited), an Indian non-banking finance company, has roped in Gaurav Sharma as its group chief technology officer (CTO). Gaurav Sharma will be leading and managing the technology initiatives for Poonawalla Fincorp. He is expected to further strengthen the commitment of the group of developing a world class digital technology […]
Poonawalla Fincorp Limited said that it has inked a memorandum of understanding (MoU) with the Institute of Company Secretaries of India (ICSI) for offering collateral-free term loans to the latter’s members and employees. The scheme will benefit more than 65,000 ICSI members across India, claimed the Indian non-banking finance company (NBFC), which was previously called […]
Magma Fincorp, an Indian non-banking finance company (NBFC), owned by Adar Poonawalla-controlled Rising Sun Holdings, has changed its name to Poonawalla Fincorp Limited. The company said that it has started rebranding activity following the name change. It can be recalled that Rising Sun Holdings had acquired a controlling stake in the company earlier this year. […]