Can Fin Home spurts after decent Q4 outcome

2 May 2022 , 11:46 AM

Profit before tax (PBT) rose 15.72% year-on-year to Rs 164.34 crore in Q4 FY22.

The companys net interest income rose 28% to Rs 237.28 crore in Q4 March 2022 over Q4 March 2021. Outstanding loan book increased 21% to Rs 26711 crore during the period under review.

The banks gross non-performing assets (NPAs) stood at Rs 170.59 crore as on 31 March 2021 as against Rs 201.91 crore as on 31 March 2020.

The ratio of gross NPAs to gross advances stood at 0.64% as on 31 March 2021 as against 0.91% as on 31 March 2020.

The ratio of net NPAs to net advances stood at 0.30% as on 31 March 2021 as against and 0.61% as on 31 March 2020.

Can Fin Homes net profit rose 3.30% to Rs 471.11 crore on 1.48% decrease in total income to Rs 1,988.51 crore in the year ended March 2022 over the year ended March 2021. PBT rose 2.83% YoY to Rs 635.06 crore in FY22. Net interest income rose 2% to Rs 816.15 crore in FY22.

As on 31 March 2022, the companys provision coverage ratio stood at 52.69%. Asset coverage ratio stood at 100%.

The board recommended a final dividend of Rs 1.50 per equity share for the financial year 2021-22.

With reference to COVID-19, the company said it is fully operational from April 2020 with necessary precautions for the safety of employees and customers. It is well capitalised and there is no impact on the companys capital and financial resources. The company said it has enough liquidity and sufficient un-availed sanctioned limits from banks and financial institutions to meet all obligations and business growth.

The companys main business is to provide loans for the purchase and construction of residential houses. It has 187 branches, 21 affordable housing loan centres (AHLCs) & 13 satellite offices spread across various locations of the country in 21 States & Union Territories, total 200.

Powered by Capital Market – Live News