Can Fin Homes rose 0.53% to Rs 484.25 after the housing finance company posted a 23.7% rise in net profit to Rs 131.92 crore on a 2.7% decline in total income to Rs 502.76 crore in Q3 FY21 over Q3 FY20.
The housing finance company's profit before tax stood at Rs 177.48 crore in Q3 FY21, rising nearly 22% from Rs 145.57 crore in Q3 FY20. Tax expense grew 12% to Rs 45.39 crore in Q3 FY21 over Q3 FY20.The company's net interest income rose 21% year on year to Rs 210.41 crore in Q3 FY21 over Q3 FY20. Net interest margin improved to 3.97% in Q3 FY21 from 3.43% in Q3 FY20.
On the asset quality front, gross non-performing assets (NPAs) stood at Rs 141.93 crore as on 31 December 2020 as against Rs 149.90 crore as on 30 September 2020 and Rs 160.96 crore as on 31 December 2019.
The ratio of gross NPAs to gross advances stood at 0.68% as on 31 December 2020 as against 0.72% as on 30 September 2020 and 0.8% as on 31 December 2019. The ratio of net NPAs to net advances stood at 0.41% as on 31 December 2020 as against 0.46% as on 30 September 2020 and 0.59% as on 31 December 2019. The company's spread rose to 2.91% in Q3 FY21 from 2.32% in Q3 FY20.
Can Fin Homes said it holds a provision of Rs 72.89 crore to mitigate the impact of COVID-19, which is more than the requirement as per the aforesaid RBI Circulars on COVID-19 Regulatory Package. The NBFC's capital adequacy ratio improved to 24.37% in Q3 FY21 from 18.82% in Q3 FY20.
Can Fin Homes is a housing finance company. The firm offers housing loan to individuals; housing loan to builders/developers, and loan against property. Its loan portfolio includes housing loans and non-housing loans.
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