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Can Fin Homes surges over 17% to hit 52-week high on strong Q3 earnings

Updated : January 21, 2020 01:23 PM IST

Net interest income (NII) was up 23.9 percent at Rs 168.63 crore as compared to Rs 136.11 crore in the same quarter last year.

Net interest margin (NIM) increased to 3.42 percent versus 3.31 percent YoY.

Shares of Can Fin Homes rallied over 17 percent on Tuesday and touched 52-week high of Rs 457.25 after the company posted robust earnings for the third quarter of fiscal 2020.

At 1:20 pm, shares of Can Fin Homes surged 15.83 percent to Rs 451 on the BSE.

The company reported a 40 percent rise in net profit for Q3FY20 at Rs 106.61 crore as against Rs 75.82 crore in Q3FY19. Net interest income (NII) was up 23.9 percent at Rs 168.63 crore as compared to Rs 136.11 crore in the same quarter last year.

Net interest margin (NIM) increased to 3.42 percent versus 3.31 percent YoY. Loan disbursements rose 12 percent on year to Rs 1476.7 crore while assets under management during the quarter was up 15 percent YoY.

The housing finance company reported strong liquidity position as un-availed limit as on December 31, 2019 stood at Rs 4137.84 crore.

However, asset quality witnessed a slight hiccup but remained under control as gross non-performing assets (GNPA) in Q3FY20 increased marginally to 0.80 percent from 0.79 percent QoQ. Net NPA during the quarter was at 0.59 percent as against 0.58 percent in Q2FY20.

Gross NPA in Q3FY20 rose 4 percent to Rs 160.96 crore versus Rs 154.77 crore QoQ while net NPA rose to Rs 118.72 crore from 113.19 crore QoQ.

The lender said that 71 percent of fresh loan approvals were to salaried and professionals while 29 percent were to self-employed non-professional (SENP) segment in Q3.

Can Fin Homes surges over 17% to hit 52-week high on strong Q3 earnings

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