Can Fin Homes Q4 results: Net profit rises 36% to Rs 91 crore

New Delhi: Can Fin Homes, the housing finance arm of Canara Bank, on Monday reported a 35.84 per cent rise in its net profit to Rs 90.91 crore for the March 2020 quarter, on the back of higher interest income.

The company had posted a net profit of Rs 66.92 crore during the corresponding quarter of the previous financial year ended March 2019. However, sequentially, the profit was lower during the January-March 2020, compared with Rs 106.61 crore in the December 2019 quarter.

Income during the January-March 2020 period rose to Rs 525.86 crore, against Rs 462.93 crore in the year-ago period, Can Fin Homes said in a regulatory filing.

For the full financial year 2019-20, the firm’s net profit grew 26.74 per cent to Rs 376.12 crore, compared with Rs 296.76 crore in 2018-19.

Income was up at Rs 2,030.95 crore during 2019-20, from Rs 1,731.40 crore a year ago.

The board of directors at its meeting on Monday recommended a dividend of Rs 2 per share, subject to shareholders’ approval at the upcoming annual general meeting, it said.

Shares of Can Fin Homes on Monday closed 2.53 per cent down at Rs 303.75 apiece on the BSE.

[Source – Economic Times]


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