Q1FY20 Results: CanFin Homes posts positive numbers

Can Fin Homes recorded a quarterly net profit of Rs. 80.98 crores for the June quarter of FY20. The company's net profit was up by 20.85 per cent on QoQ basis and 10.59 per cent up on YoY basis.

The NII stood at Rs. 148.60 crore for Q1FY20, showing QoQ growth of 8 per cent and 17.65 per cent growth YoY. For Q1FY19, Can Fin Homes' NII stood at Rs. 126.30 crore. The interest income for the company grew by 20.41 per cent YoY to Rs. 477.25 crore in Q1FY20 as compared to Rs. 396.36 crore in Q1FY19. The NIM for the quarter stood at 3.18 per cent, same as previous year's June quarter and 3.14 per cent in Q4FY19.

Further, Gross NPA & Net NPA stood at 0.73 per cent and 0.52 per cent indicating increase of 7 bps and 8 bps, respectively as compared to Q1FY19. Loan book surpassed the Rs.19,000 crore mark with a clientele base of 1.50 lakh. YoY loan book growth stood at 17 per cent. Fresh loan approvals during Q1 were 88.75 per cent for Housing and 11.25 per cent for Non-Housing. Net slippage reduced to Rs. 25.80 crore in Q1FY20 as compared to Rs.39.80 crore in Q1FY19.

On Tuesday, the stock of Can Fin Homes opened at Rs 388 per share and made an intraday high and low of Rs. 420 and Rs. 380.75, respectively on the BSE. The stock closed at Rs. 406.80, up by 8.35 per cent.