|
Net interest income grew 25.67% year on year (YoY) to Rs 328 crore in the financial year ended 31 March 2024. Net interest margin was 3.96% in Q4 FY24 as against 3.37% posted in same quarter last year.
Operating profit grew by 22.52% to Rs 272 crore during the fourth quarter of FY24 from Rs 222 crore in Q4 FY23.
Provisions for standard assets in the fourth quarter amounted to Rs 31,684 crore and NPA provisions added up to Rs 286 crore as of 31 March 2024.
Profit before tax in Q4 FY24 stood at Rs 269.95 crore, up by 36.35% from Rs 197.99 crore in corresponding quarter previous year.
Gross NPA jumped by 64.37% to Rs 286 crore as on 31 March 2024 as against Rs 174 crore as on 31 March 2023.
Gross non-performing assets (NPA) ratio was 0.82% as on 31 March 2024 as compared with 0.55% as on 31 March 2023. Net NPA ratio was 0.42% as on 31 March 2024 as against 0.26% as on 31 March 2023.
During Q4 FY24, new approvals amounted to Rs 2,586 crore (down 6.61% YoY) and disbursements aggregated to Rs 2,314 crore (down 8.83% YoY).
Outstanding loan book increased 10.89% YoY to Rs 34,999 crore during the period under review.
On full year basis, the firm’s net profit increased 20.84% to Rs 750.7 crore on 28.49% rise in total income to Rs 3,524.69 crore in FY24 over FY23.
Meanwhile, the board has recommended a final dividend of Rs 4 per equity share for the financial year 2023-24, subject to approval of the shareholders.
Further, the board of directors accepted the resignation of Ajay Kumar Singh, deputy managing director (key managerial personnel) of the company. The resignation is effective from 29 April 2024.
Can Fin Homes is engaged in a housing finance institution approved by National Housing Bank (NHB). The company had a network of 219 branch offices spread over 21 states and union territories.
|