Can Fin Homes, one of the players in the housing finance sector of India has reported 6.48 percent growth in its standalone net profit which stood at Rs 75.46 crore for the quarter ended March 31, 2018 (the fourth quarter 2018) as compared to Rs 70.87 crore in the same period last year (fourth quarter of 2017).
"Net revenue of the company rose moderately by 10.73 percent at Rs 399.49 crore in January-March quarter of this fiscal as against Rs 360.79 crore in the corresponding period last year," Can Fin Homes said in a filing to the Bombay Stock Exchange.
During January-March quarter, operating expenses increased by 7.23 percent to Rs 24.63 crore from Rs 22.97 crore in a year ago period.
Operating Profit surged by 10.74 percent to Rs 374.85 crore as against Rs 338.51 crore in the year-ago period, while Operating Profit Margin (OPM) expanded year-on-year to 0.00 percent in March quarter.
Interest grew by 12.70 percent year on year (Y-O-Y) to Rs 255.76 crore, while Taxation increased by 8.23 percent at Rs 42.87 crore (March 2017 Rs 39.61 crore).
Profit Before Tax stood at Rs 118.33 crore in the fourth quarter of 2018 as against Rs 109.90 crore in the fourth quarter of 2017.
For fiscal 2018, Profit Before Tax is recorded at Rs 458.06 crore as against Rs 369.58 crore in fiscal 2017, up by 24 percent.
The Net Profit for fiscal 2018, is Rs 301.77 crore compared with Rs 235.26 crore in fiscal 2017, which is up by 28%.
The Board has also recommended a dividend of Rs 2 per equity share of face value of Rs 2 each.
Today, the stocks of Can Fin Homes traded at Rs 421.80 per share.