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Can Fin Homes Ltd. reported profit after tax at Rs 103 crore, up 13% year-on-year and down 22% quarter-on-quarter led by lower net interest margin, as the company ramps up on growth.
Reported net interest margin came off to 3.88% versus 3.97% a quarter ago.
Yields were lower by 29 basis points QoQ to 9.49% as the management’s competitive pricing strategy to push growth gathered pace.
Provisioning was elevated at Rs 8 crore compared to Rs 2 crore QoQ.
Proforma gross non performing assets are less than 1%. Loan growth has picked up 7% YoY and 5% QoQ to Rs 22,105 crore.
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Axis Securities CanFinHome-Q4FY21-Result Update.pdf
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