Can Fin Homes surges 11% as Q4 net profit grows 36% YoY to Rs 91 crore

Net interest margin also improved from 3.29 per cent to 3.52 per cent during the quarter.

Shares of Can Fin Homes surged 11 per cent to Rs 339 on the BSE on Tuesday after the company reported a 35.84 per cent year on year (YoY) rise in its net profit to Rs 90.91 crore for the quarter ended March 2020 (Q4FY20), on the back of higher interest income. The housing finance arm of Canara Bank had posted a net profit of Rs 66.92 crore in the year-ago quarter.

Net interest income -- the difference between interest earned and interest expended -- rose 35 per cent YoY to Rs 186 crore from Rs 138 crore. Net