A reduction in the cost of borrowings, backed by higher business volume, boosted profits at CanFin Homes by 29.40 per cent to ₹20.11 crore for the fourth quarter ended March 31, as against ₹15.54 crore during the same period last year.
The company’s total income during the quarter rose 42.87 per cent to ₹161.58 crore as against ₹113.09 crore recorded in the same period last year. Commenting on the company’s performance, C Ilango, Managing Director, said, “The year saw a reduction in the cost of borrowings and an increase in overall business volume; operating cost was also under control.”
Gross NPA stood at ₹12.10 crore ( ₹15.56 crore).
For the full year, the company posted 39.89 per cent increase in profit at ₹75.71 crore against ₹54.12 crore clocked last year. Total income was up 47.20 per cent at ₹577.74 crore against ₹392.48 crore last year.