'Can Fin Homes has posted moderate 9% growth in
the net profit to Rs 199.64 crore for the quarter ended June 2024 (Q1FY2025).
Interest income increased 13% to Rs 931.08 crore, while interest expenses also
moved up 13% to Rs 602.73 crore. NII of the company increased 13% to Rs 328.35
crore in Q1FY2025.
The net interest
margin improved eased to 3.57% in Q1FY2025 from 3.96% in the previous quarter
and improved from 3.48% in the corresponding quarter of last year. The loan
growth has moderated to 9% end March 2024. The company witnessed deterioration in
asset quality.
Operating expenses
increased 13% to Rs 46.20 crore, allowing the operating profit to rise 13% to
Rs 282.20 crore. Depreciation fell 3% to Rs 2.63 crore, while loan loss
provisions jumped 78% to Rs 24.47 crore in Q1FY2025. PBT rose 9% to Rs 255.09
crore.
Effective tax rate was
steady at 21.7% in Q1FY2025 from 21.6% in Q1FY2024. The net profit of the
company increased 9%...
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