Q4FY18 Results: Canfin Homes posts minimal growth QoQ

Canfin homes reported stable numbers for Q4FY18 as slower AUM growth led to moderate interest income growth over the quarter.


The NII for the quarter rose by 7.3 per cent yoy to Rs. 144 crore in Q4FY18 vs Rs. 134 crore in Q4FY17 and Rs.142 crore in Q3FY18. This was largely due to minimal rise in interest income and higher rise in interest expended by 10 per cent yoy and 12.8 per cent yoy, respectively.


The provisions for the standard assets and NPAs declined to 0.76 crore in Q4FY18 vs Rs. 9.22 crore in Q3FY18 vs Rs. 1.3 crore in Q4FY18. The resultant net profit for the quarter to Rs. 6.5 per cent yoy to Rs. 75.46 crore in Q4FY18 vs Rs. 70.86 crore in Q4FY17.


The asset quality for the quarter remained unchanged with minimal 3 bps qoq decline to  0.43 per cent in Q4FY18 vs 0.46 per cent in Q3FY18 and increased 21 bps yoy. Total GNPAs for the quarter were also more than doubled over previous year to Rs.67.4 crore in Q4FY18 vs Rs.27.9 crore in Q4FY17


The total loan book for the quarter rose by 18 per cent yoy to Rs.15723 crore in Q4FY18 vs Rs.13313 crore in previous year corresponding quarter. The NIMs remained unchanged at 3.53 per cent vs 3.54 per cent  in Q4FY17.


Taking the cue from the results, the stock was trading up by 5.17 per cent at Rs. 421.8 mark as of 10:43 hours