Growth in the loan book and increase in the loan share has boosted porfits of CanFin Homes by 54.89 per cent to ₹49.72 crore, on standalone basis, for the first quarter (Q1) of financial year 2016-17, as against ₹32.10 crore during the same period last year.
The housing finance company’s total income during Q1 also climbed 27.66 per cent to ₹309.62 crore, from ₹242.53 crore recorded last year. Earnings per share (basic) stood at ₹18.86 (₹12.06).
Commenting on the company’s performance, SK Hota, Managing Director, said: “In the first quarter, the loan book has grown by 28 per cent on a year-on-year basis, the housing loan share being 88 per cent of the total loan book. The company has continued its focus on the retail sector.”
CanFin Homes’ gross non-performing assets (GNPAs) as on June 30, 2016, stood at ₹27.17 crore, amounting to 0.24 per cent of the loan book. Net NPA was at 0.04 per cent, against 0.08 per cent in the same period last year.
Net interest margin (NIM) was at 3.39 per cent, compared to 3.04 per cent in the corresponding quarter of the previous year.