Can Fin Homes surges post Q2FY19 numbers

Can Fin Homes spiked around 7 per cent after the company reported its financial numbers for the quarter ended September 2018.

The NII for the quarter increased by 2 per cent yoy and 3.2 per cent qoq to Rs. 103.39 crore in Q2FY19 as against Rs. 126.3 crore in Q1FY19 and Rs. 127.85 crore in Q2FY18. The interest income for the company grew by 12.2 per cent yoy to Rs. 414.2 crore in Q2FY19 vs Rs. 369.24 crore in Q2FY18. The NIM for the quarter stood at 3.17 per cent as against 3.64 per cent in Q2FY18.

The net profit for the quarter came in at Rs. 76.83 crore, grew by 7.6 per cent as compared to Q2FY18.

Further, gross NPA and net NPA improved to 0.63 per cent and 0.42 per cent, respectively as compared to Q2FY18. Further, the loan outstanding amount stood at Rs. 16,935 crore as against Rs. 14,463 crore, yoy growth of 17.1 per cent.

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.

On Tuesday, the stock opened at Rs. 220 per share and made an intraday high of Rs. 241.15 on the BSE. At 10:50 hours, the stock was trading around Rs. 237.60 per share.