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Can Fin Homes Q4 Review - Pressure On Margins; Disbursements Picking Up: Axis Securities

Can Fin Homes Q4 Review - Pressure On Margins; Disbursements Picking Up: Axis Securities

A residential housing complex in the Chembur suburb of Mumbai, India.  (Photographer Dhiraj Singh/Bloomberg)
A residential housing complex in the Chembur suburb of Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

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. reported profit after tax at Rs 103 crore, up 13% year-on-year and down 22% quarter-on-quarter led by lower net interest margin, as the company ramps up on growth.

Reported net interest margin came off to 3.88% versus 3.97% a quarter ago.

Yields were lower by 29 basis points QoQ to 9.49% as the management’s competitive pricing strategy to push growth gathered pace.

Provisioning was elevated at Rs 8 crore compared to Rs 2 crore QoQ.

Proforma gross non performing assets are less than 1%. Loan growth has picked up 7% YoY and 5% QoQ to Rs 22,105 crore.

Click on the attachment to read the full report:

Axis Securities CanFinHome-Q4FY21-Result Update.pdf

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