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Can Fin Homes, the housing finance company sponsored by Canara Bank, has more than doubled its net profit for the March quarter on higher income.
Net profit rose to ₹47.45 crore for quarter ended March 2016 as against ₹22.89 crore in corresponding quarter last year. Income for the quarter grew 30 per cent to ₹295.27 crore as against ₹227 crore in the corresponding quarter previous year.
For the year-ended March 2016, Can Fin Homes’ net profit grew 82 per cent to ₹157.11 crore compared to ₹86.24 crore in the corresponding period last year. Income for the year grew 33 per cent to ₹1,083.54 crore from ₹817 crore earlier.
The board of Can Fin Homes announced a final dividend of ₹10 per share of face value ₹10 each. Tracking the quarterly results, the Can Fin Homes scrip ended 1.65 per cent higher at ₹1,203.50 on the BSE on Friday.
Gross NPAs stood at ₹19.76 crore amounting to 0.19 per cent of the loan book.
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