Can Fin Homes vaults after good Q2 show

Can Fin Homes rose 2.6% to Rs 461.15 after the housing finance company posted a 31.6% rise in net profit to Rs 128.42 crore in Q2 September 2020 from Rs 97.62 crore posted in Q2 September 2019.

Oct 29, 2020 12:10 IST capital market

The housing finance companys total income grew by 5% to Rs 525.81 crore in Q2 September 2020 over Q2 September 2019. The result was announced after market hours yesterday, 28 October 2020.

Profit before tax (PBT) rose 31.4% to Rs 172 crore in Q2 September 2020 over Q2 September 2019. Current tax expense grew by 75.5% to Rs 46.21 crore in Q2 September 2020 over Q2 September 2019.

Can Fin Homes net interest income grew 31.6% year on year to Rs 210.48 crore in Q2 September 2020 from Rs 159.86 crore in Q2 September 2019. Net interest margin improved to 4.09% in Q2 September 2020 from 3.42% in Q2 September 2019.

Gross non-performing assets (NPAs) stood at Rs 149.90 crore as on 30 September 2020 as against Rs 156.31 crore as on 30 June 2020 and Rs 154.77 crore as on 30 September 2019. The ratio of gross NPAs to gross advances stood at 0.72% as on 30 September 2020 as against 0.75% as on 30 June 2020 and 0.79% as on 30 September 2019. The ratio of net NPAs to net advances stood at 0.46% as on 30 September 2020 as against 0.52% as on 30 June 2020 and 0.58% as on 30 September 2019.

The NBFCs capital adequacy ratio stood at 24.77% in Q2 September 2020, improving from 18.82% in Q2 September 2019.

Can Fin Homes is a housing finance company. The firm offers housing loan to individuals; housing loan to builders/developers, and loan against property.

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