Can Fin Homes Apr-Jun net profit rises 55% to Rs 50 crore

Can Fin Homes has reported a jump of 54.9 per cent in the April-June quarter's net profit at Rs 49.72 crore.
Company's net profit stood at Rs 32.10 crore in the first quarter of the previous fiscal 2015-16.
Total income during the June quarter rose to Rs 309.62 crore, from Rs 242.53 crore in the same period of the previous fiscal, it said in a regulatory filing.
Canara Hom fin said, in accordance with the National Housing Bank (NHB) directives, it has transferred Rs 9.25 crore from its general reserves towards deferred tax liability in June quarter.
The NHB has asked housing finance companies to provide for deferred tax liabilities over a period of three years in a phased manner in the ratio of 25:25:50 starting from 2014-15.

Accordingly, the company has to create Rs 73.99 crore DTL in three years, it added.
Can Fin Homes shares closed 1.15 per cent up at Rs 1234.05 apiece on the BSE.