CanFin Homes Limited has posted 15.02 per cent higher profit at ₹93.15 crore on a standalone basis for the first-quarter (Q1) of FY2020-21 as against ₹80.98 crore recorded in the same period last year.

The company’s Q1 total income from operations is also higher by 7.92 per cent at ₹522.50 crore as against ₹484.14 crore in the same period last year. EPS for the quarter stood at ₹7 compared with ₹6.08 last year.

On the Covid-19 impact, the company said India responded to the crisis with a nationwide lockdown with effect from March 24 which continues on major cities across the country with gradual withdrawal of lockdown and partial resumption of economic activities.

The extent of which this pandemic will impact the business and financial results of the company, at this point of time, depends on the future developments which are highly uncertain.

In accordance with the RBI guidelines relating to Covid-19 regulatory package dated March 27, April 17, May 23 and clarification issued by RBI to Indian Bankers Association dated May 6, the company has offered moratorium on the payment of instalments falling due between March 1, August 31 to eligible borrowers.

The moratorium period has been excluded from the number of days past-due for the purpose of asset classification under regulatory income recognition and asset classification norms (IRAC) as of June 30.

The company as on June 30 holds a provision of ₹72.89 crore, which is more than the requirement as per the RBI circulars on Covid-19 regulatory package.