Can Fin Homes has announced an increase in net profit of 34.88% for the quarter ending March 31, 2023. The company said in a BSE filing that its profit after tax (PAT) increased to Rs 165.79 crore in Q4 FY23 from Rs 122.92 crore in the same period of the previous fiscal. The company's total operating income increased by 36.17% to Rs. 764.29 crore in Q4 FY23 from Rs. 561.29 crore it reported in the same quarter last year.
Can Fin Homes has announced an increase in net profit of 34.88% for the quarter ending March 31, 2023. The company said in a BSE filing that its profit after tax (PAT) increased to Rs 165.79 crore in Q4 FY23 from Rs 122.92 crore in the same period of the previous fiscal. The company's total operating income increased by 36.17% to Rs. 764.29 crore in Q4 FY23 from Rs. 561.29 crore it reported in the same quarter last year.
The board of directors has appointed K Satyanarayana Raju to serve as a new director (non-executive promoter) beginning on April 26, 2023, for a period that will terminate on his superannuation date of December 31, 2025. The company's net value was Rs 3,647.28 crore on March 31, 2023, its debt-to-equity ratio was 7.97, its total debt to total assets ratio was 0.88, its net profit margin was 22.65%, its gross non-performing assets were 0.55%, and its net non-performing assets were 0.26%. The company had Rs 23,298.58 crore in outstanding debt as of March 31, 2023.
The board also proposed to the company's shareholders a final dividend for the fiscal year 2022–2023 of Rs 2 per equity share with a face value of Rs 2. Can Fin Homes have raised Rs 935 crore via a private offer in February 2023 using non-convertible securities according to the regulatory filing. It had a disbursement of Rs 2538 crore in Q4FY23 and its outstanding loan book was at Rs 31563 crore.
Can Fin Homes is a housing finance company based in Bangalore, India. Established in 1987, the company provides a range of housing finance products including home loans, loan against property, and construction finance. Can Fin Homes primarily cater to the affordable housing segment and has a presence in various cities across India through its network of branches. The company is known for its efficient and transparent loan processing system, which has helped it earn a strong reputation in the Indian housing finance market. In 2019, Canara Bank acquired a majority stake in the company, which has further strengthened its position in the industry.
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