Can Fin surges over 11%

Can Fin Homes posted a set of encouraging earnings for Q4FY20 and the market reflected that – the stock opened with a gain of over 6.5% at Rs.324 and went on to touch an intraday high at Rs.338.65, up 11.5%.

Its PAT rose 36% (YoY) at Rs.91 crore. Nil has increased to Rs 186 crore, a growth rate of 35%. MM has improved from 3.29% to 3.52%.

The good news was on the asset quality front - GNPAs of the company has been contained at 0.76% as compared to 080% in Q3.

It Loan book Increased by 13% with an Outstanding of Rs.20708 crore on 31/03/2020 as against Rs.18381 crore on 31/03/2019.

Due to the Covid, loan disbursements were not made during April 2020. Business resumed in many Centres during last week of May 2020 though administrative work was carried out through the work from home mode. From April 20th, it has been able to open almost all branches except these in containment areas.