Can Fin Homes Ltd's Q2FY19 standalone net profit rises 7.6% yoy to Rs76.83cr : Misses Estimates

The company’s standalone NII stood at Rs130.40cr, up 1.95% yoy but down 3.84% qoq.

Oct 23, 2018 09:10 IST India Infoline Research Team

Can Fin Homes Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
NII 130.40 2.0
Net Profit (adjusted) 76.83 7.6

Canfin Homes’s Q2FY19 standalone NII has improved by 2% yoy to Rs130.4cr against Rs127.9cr in the corresponding quarter previous year. The housing finance company’s Q2FY19 standalone net profit was below our estimates by 5%, which has improved by 7.6% yoy to Rs76.8cr against Rs71.4cr. The lower than estimated profits was due to lower NII. The NIMs for Q2FY19 came at 3.17%, which has declined by 47bps yoy. Its GNPA for Q2FY19 was at 0.63%, which is down by 1bps qoq. Its AUM as on Q2FY19 end stood at Rs15,058cr, up by 18.7% yoy.

  • The loan disbursement during the quarter stood at Rs1,443cr (+7% yoy); Q2FY19 witnessed the highest ever quantum disbursement in loans..
  • Cost-to-income ratio for the quarter came at 13.75% as against 15.27% yoy.
  • With 20 new branches/AHLCs opened during Q2FY19, total network of the company has increased to 173 branches/AHLCs and 14 SOs covering 21 States and Union Territories.

Technical View:

Can Fin Homes Ltd ended at Rs. 224.95, down by 6.3 points or 2.72% from its previous closing of Rs. 231.25 on the BSE.
The scrip opened at Rs. 233 and touched a high and low of Rs. 233.15 and Rs. 222.30 respectively. A total of 17,46,370 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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