Can Fin Homes posts robust numbers in Q1FY17

Can Fin Homes has posted an impressive results in Q1FY17. On a (QoQ) basis the Net Income from Operations stands at Rs 309.62 crore. As compared to the last quarter, of the previous fiscal net income has seen a surge of 28 per cent. Net profit has also increased by 54 per cent and stands at Rs 49.73 crores.

The company in the press release to the exchanges stated that the gross NPA is at Rs 27.17 crores which amounts to 0.24 per cent of the loan book. The net NPA is at 0.04 per cent for this quarter against 0.08 per cent in the corresponding period of the previous year creating a coverage of 84 per cent.

On the other hand, the company has entered into a Memorandum of Understanding (MOU) with its RTA, M/s. Canbank Computer Services Ltd., for renewal of RTA services for a further period of three years from July 18, 2016 to July 17, 2019.

The stocks on July 15, are likely to be in green with such a positive result. The shares on July 14, closed at Rs 1234. 52-week High/Low of the stocks stands at Rs 1324/683.45. The shares in the last 6 months have surged by more than 30 per cent.

Can Fin Homes Ltd., is a Housing Finance Company. The company offers finance for construction of a house, loan for the purchase of a flat, finance for the acquisition of a plot and construction of a house on the same. Under the composite housing loan scheme, it offers loan for the extension of existing house and loan towards the repairs, renovation and upgradation of a house or flat.