Axis Securities: Can Fin Homes Logs Good Q2 Performance
A pedestrian walks past a Canara Bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

Axis Securities: Can Fin Homes Logs Good Q2 Performance

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Axis Securities Report

Can Fin Homes Ltd. Q2 FY21 results were better than expectations on peak net interest margins (4.1%) and lower provisions (down 66% QoQ).

Net interest income was up 31/10% YoY/QoQ to Rs 211 crore. While loan growth remained moderate at 6% YoY, fresh disbursals picked up to Rs 825 crore versus 401 crore QoQ.

Collection efficiency stands at approximately 93% (excluding prepayments/foreclosures).

Costs control was maintained with C-I at 11.9% versus 15.4/11.2% YoY/QoQ.

Click on the attachment to read the full report:

Axis Securities CanFin Home Q2FY2 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.