Can Fin Homes’ Q1 net profit rises 11% at Rs 77 crore
Canara Bank subsidiary Can Fin Homes registered a rise of 11 per cent in net profit at Rs 77.39 crore for the quarter ended June 30. The company had reported a net profit of Rs 69.71 crore in the same period of 2017-18.
Total income increased to Rs 407.27 crore from Rs 366.79 crore in the June quarter 2017-18, the company said in a regulatory filing.
Loans outstanding by June-end 2018 rose 17.54 per cent to Rs 16,199.43 crore from Rs 13,782.62 crore earlier.
Among other metrics, the net interest margin- a key gauge of profitability- dropped to 3.26 per cent for the quarter from 3.69 per cent in the same period a year ago.