Money & Banking

Can Fin Homes net profit up 15%; to raise Rs 300 cr via rights issue

Our Bureau Bangalore | Updated on July 25, 2014

Can Fin Homes Ltd, the Canara Bank sponsored housing finance subsidiary, reported a 15 per cent growth in net profit for the June quarter over the corresponding year on higher income.

Net profit grew to Rs 18.95 crore on income of Rs 176 crore for the quarter-ended June 2014 against a net of Rs 16.50 crore on income of Rs 126.58 crore in corresponding last quarter.

Can Fin Homes proposes to raise upto Rs 300 crore through a rights issue to shore up its capital. The board of directors of Can Fin Homes, which approved the rights issue proposal on Thursday, would decide the terms and conditions of the proposed issue, rights entitlement ratio, issue price, timing and the record date, the company said in a filing to the BSE on Friday.

Shares of Can Fin Homes were trading lower by 7.23 per cent at Rs 421.50 on the BSE in the intra-day trade on Friday.

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Published on July 25, 2014
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